Euronext plans to buy the Athens Stock Exchange for nearly €400 million.

Euronext is preparing for a new stock market move. The pan-European stock exchange has confirmed it is in negotiations to acquire the Athens Stock Exchange for nearly €400 million.

According to a statement, the offer would be structured as a share swap valuing Athex , Greece's main stock index, at 6.90 euros per share , with a fixed conversion ratio of 21.029 Athex ordinary shares for each new Euronext share.

Based on Euronext 's share price of €145.10 as of June 30, 2025, the deal would value the Greek benchmark at approximately €399 million on a fully diluted basis.

Euronext has indicated that the submission of a formal offer remains subject to due diligence. "A potential merger with Athex would fulfill Euronext 's ambition to consolidate the European capital markets with growth opportunities and synergies," the statement said.

The statement asserts that, following the acquisition, the group would promote the harmonization of European capital markets, operating with unified trading and post-trading technology and a cross-border clearing framework.

Euronext currently handles approximately 25% of equity trading activity in Europe, operating markets in Amsterdam, Brussels , Dublin, Lisbon, Milan, Oslo, and Paris. This potential acquisition would allow Greek financial market participants to join a network of more than 1,800 listed companies with a combined market capitalization of €6 trillion.

"Euronext's interest in Athex reflects its strong confidence in the development of the Greek economy and the growth potential that comes with further integration of Greek capital markets into the Eurozone and the European Union ," the group concludes.

Euronext is preparing for a new stock market move. The pan-European stock exchange has confirmed it is in negotiations to acquire the Athens Stock Exchange for nearly €400 million.