- Euronext shareholders have approved the proposed acquisition of the Borsa Italiana Group from the London Stock Exchange Group (LSEG).

In preparation of the acquisition, Borsa Italiana chair Andrea Sironi and chief executive Raffaele Jerusalmi have agreed to step down from the LSEG board with immediate effect.

Their employment at Borsa will remain unaffected.

LSEG agreed to sell Milan's Borsa Italiana stock exchange to Euronext for €4.3 billion last month in order to complete the acquisition of Refinitiv.

The transaction is still awaiting clearance from the European Commission.

Don Robert, chair of LSEG, said: "On behalf of the board, I would like to thank Raffaele and Andrea for the tremendous contributions they have made both to the group's success in Italy and more broadly. Raffaele, in the last 10 years in his role as an executive director, has played a key role in the growth of the group's capital markets business since the merger between Borsa Italiana and London Stock Exchange in 2007.

“Following his appointment to the Board in 2016, Andrea has provided valuable financial risk management and regulatory experience. We wish them both the very best for the future."

At 1:09pm: [LON:LSE] London Stock Exchange Group PLC share price was 0p at 8394p

Story provided by