The controversies and concerns around the European project born with the acquisition of Piazza Affari continue. A few months since transfer of Borsa Italiana to Euronext (the pan-European circuit with a French majority) worries are growing about seeing Italian business in the sector weakened. Despite the fact that in recent days the Group has tried to reassure Milan's role as a financial centre, it has not mentioned anything about it risk of redundancies and this has rekindled the debate in politics as well.
“We will not allow Euronext to implement unilateral operations on the subsidiary Borsa Italiana and on the companies of the group, making workers pay for their profit objectives”. They are the words of Riccardo Colombani, general secretary of First Cisl, on the rumors according to which the industrial plan that Euronext is preparing to present would foresee 200 redundancies (out of 700) among the personnel of Borsa Italiana, which passed under the control of the group with a French majority since the end of last April when the London Stock Exchange Group plc agreed to sell 100% of London Stock Exchange Group Holdings Italia SPA (the holding company that controls the Borsa Italiana Group) to Euronext for a consideration of 4.325 billion euros. Giving birth to the first European stock exchange with more than 1.800 listed companies and over 4 billion of capitalization.
“In just a few months, Borsa Italiana has demonstrated its central role in Euronext by creating it on its own 56% of group revenues. Any cuts are therefore completely unjustified. Today more than ever – continued the leader of the CISL banks – we need a credit and financial system that is at the service of the real economy, capable of promoting the revival of investments and employment. It is therefore unthinkable that, in strategic companies such as Borsa Italiana, one can think of pursuing an industrial plan that does not go in this direction. We will monitor the developments of the matter with extreme attention, reserving the right to implement all the necessary measures and also requesting the involvement of the institutions, if necessary".
Moreover, as also observed a year ago by President of the Republic Sergio Mattarella, Borsa Italiana is "an institution that can play a significant role in the restart of the country, in the European framework for the completion of the capital market".
