Euronext Makes Offer for Athens Stock Exchange, Reflecting Confidence in Greek Market Revival

Euronext, Europe’s largest stock exchange operator, has formally submitted a takeover proposal to the Athex Group, aiming to acquire up to 100 percent of the Athens Stock Exchange (ATHEX).

The Paris-based financial powerhouse confirmed ongoing talks regarding the potential acquisition, a move that demonstrates its confidence in Greece’s strengthening economic position and its ambition to more deeply integrate Greek capital markets into the wider European financial structure.

Led by CEO Stephane Boujnah, Euronext operates a multi-market platform across Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal. The group is publicly listed on the Amsterdam Stock Exchange, with all trade clearing services run out of Rome. It currently supports trading for nearly 2,000 listed firms, collectively valued at more than €6.6 trillion.

If the acquisition proceeds, ATHEX would become part of a wider Euronext network that includes over 1,800 listed companies with a combined market capitalization of no less than €6.3 trillion ($7.4 trillion). This would significantly elevate the liquidity of the Athens market and enhance its visibility on the global stage.

According to market experts, the alignment with Euronext would provide ATHEX with access to more foreign investors and improve its credibility by making it part of an internationally recognized financial ecosystem. Analysts stress that instead of operating as a smaller, standalone exchange, ATHEX would benefit from being integrated into a reputable, interconnected European network.

The proposed deal enjoys support from the Greek government. Prime Minister Kyriakos Mitsotakis and Economy and Finance Minister Kyriakos Pierrakakis have reportedly been briefed about the transaction since its early stages. Though officials emphasize that this is a private-sector initiative, they acknowledge the broader advantages it could bring.

Government representatives have described the offer as a positive development for Greece’s capital market, with potential benefits for companies, investors, and regulatory bodies alike.

Euronext’s interest in ATHEX is viewed as a vote of confidence in Greece’s economic progress. The country’s successful return to investment grade and its impressive track record of four consecutive years of economic growth—each surpassing the Eurozone average since 2021—have made it a compelling candidate for long-term investments.

Reflecting on its strategic vision, Euronext stated that partnering with ATHEX would “strengthen Euronext’s strategy for the integration of European capital markets, offering opportunities for growth and synergy.”

For Greece, this potential acquisition represents a landmark moment for its capital markets, potentially ushering in a new era of foreign participation, improved investor confidence, and deeper alignment with the financial core of Europe, analysts suggest.

By fLEXI tEAM