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Tuesday May 10, 09:02
ESpeed's bid for MTS sweetened
(by Olivia Cohen)
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The bid of the dominant trading platform for US Treasury bonds ESpeed has sweetened its bid for the eurozone government bond trading platform MTS. The company agreed to offer a seat on its own board to an Italian Finance Ministry official to get the European bond trading platform.
MTS, which is also a target for a rival consortium composed of Euronext and Borsa Italiana, is weaker to eSpeed now with a lucrative offer that can give the American trading platform dominant position needed to acquire MTS.
ESpeed has argued that its offer is a great chance for MTS to link with the exchanges of America and Asia.
Under the terms of the agreement, eSpeed offers €235 million for MTS, while its European rival proposed €210 million.
MTS’s board will discuss the offer during its meeting on Tuesday, the company said in a statement.
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