Pan-European stock exchange operator Euronext said today its tender offer for 100% of Hellenic Exchanges - the operator of the Athens bourse - had become unconditional, following an approval from the Greek market regulator.
Euronext, which also owns the Dublin Stock Exchange, made the share-exchange offer to buy the company, also known as Athex, in early October, in a move aimed at consolidating European capital markets.
It has said fragmentation is one of the reasons behind the gap in Europe's competitiveness against US markets.
Euronext is offering one new share for every 20 shares held by Athex investors.
It recently lowered the acceptance threshold for the acquisition, meaning the minimum percentage of shareholders who must accept the offer for the bid to go through, from 67% to 50% plus one share of the voting rights.
The acceptance period for the tender will end on Monday, with results set to be announced two days later.
