 There has been growing consolidation among stock markets |
The London Stock Exchange's (LSE) plans to buy its Italian counterpart, Milan's Borsa Italiana, are successfully moving forward, the BBC has learned. A source close to the matter at the LSE said discussions with Borsa Italiana bosses were "making progress".
LSE first announced earlier this week that it was in talks with the Italian exchange to discuss a possible bid.
Analysts estimate that any deal could be worth about $2bn (�1bn).
Growing consolidation
Global stock exchanges have been seeking partners in recent years, in a bid to cut costs and increase business through economies of scale.
Pan-European stock exchange operator Euronext merged with the New York Stock Exchange last year and listed in Paris and Wall Street in April.
More recently, US exchange Nasdaq - which was repeatedly thwarted in its bid to buy the LSE - agreed to buy Swedish stock exchange OMX in a recommended $3.7bn (�1.8bn) deal in May.
Any deal between the LSE and Italy could face a barrier from Nasdaq, which also owns a 30% stake in the UK exchange.
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