Dublin stock ex­change up for grabs as part of new strat­egy

Belfast Telegraph - Business Telegraph - - Business Telegraph - BY GAVIN MCLOUGH­LIN

THE Ir­ish Stock Ex­change (ISE) has en­listed US in­vest­ment bank Moelis & Co to help find it a buyer.

The news emerged in a re­port by spe­cial­ist pub­li­ca­tion Buy­outs mag­a­zine, which said the ISE is up for sale and that deal books went out last month.

The ISE, which is led by chief ex­ec­u­tive Deirdre Somers ( right), did not deny the story. An ISE spokesman said: “Since the Brexit ref­er­en­dum, we have been eval­u­at­ing po­ten­tial strate­gies to en­sure that the ISE is well placed to take full ad­van­tage of Brexit-re­lated busi­ness op­por­tu­ni­ties. This work is on­go­ing.”

The ISE is owned by a num­ber of stock­broking firms. Davy, Good­body, In­vestec, Can­tor Fitzger­ald and Campbell O’connor have stakes in the busi­ness, which had oper­at­ing prof­its of €9.2m (£8.14m) last year.

An­other stock ex­change is seen as the likely buyer.

In­dus­try sources said the ex­change may be at­trac­tive for the Lon­don Stock Ex­change as it would en­able it to keep a foothold in the Euro­pean Union af­ter Brexit takes ef­fect.

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