(Reuters) -Pan-European exchange operator Euronext said on Monday it remained committed to transforming the Athens Stock Exchange into a financial gateway for southern Europe, but ruled out raising its offer to acquire the Greek bourse.
“We will not increase the price,” Euronext Chief Executive Stephane Boujnah told reporters during a press conference in Athens. “So, if the offer is not successful, we will not complete it and we walk away. And that’s life. That’s business life.”
Euronext’s current offer proposes an exchange ratio of one new Euronext share for every 20 existing ATHEX shares.
Boujnah also said the group had strong confidence in Greece’s economic trajectory and, if the tender offer succeeds, plans to enhance ATHEX’s appeal by encouraging Greek shipping companies listed abroad to return to the domestic market.
(Reporting by Renee Maltezou; Writing by Antonis Pothitos; Editing by Louise Heavens)
