(News Bulletin 247) – Euronext confirmed on Wednesday that it had submitted to the board of directors of Allfunds an indicative offer for the takeover of the fund distribution platform.

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The pan-European stock exchange operator specifies in a press release that it is currently conducting “active” discussions with the main shareholder of Allfunds.

The group recalls, however, that its offer remains conditional on the conclusion of an agreement with the other shareholders of Allfunds.

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Euronext, which says it is reacting to information published in the press, adds that its offer is currently being studied by the board of directors of Allfunds, while stressing that its terms could be modified.

“There is no certainty that a firm offer will be presented,” he continues, assuring that he plans to communicate soon in the event of progress on the file.

On the Paris Stock Exchange, Euronext shares fell 7% on Wednesday afternoon following these announcements.

Allfunds, a digital platform that brings together fund managers and distributors, provides access to more than 100,000 funds from more than 2,000 fund managers.

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