ROME, (Reuters) – Pan-European stock market Euronext will hand over control of recently acquired Milan bourse’s bonds platform MTS to current head of Italian group’s bond exchange MTS. Two sources familiar with the matter informed Reuters on Saturday.

Sources claimed that MTS CEO Fabrizio testa (53), was to succeed Raffaele Jerusalmi, as CEO of Borsa Italiana.

Borsa Italiana as well as Euronext were unable to comment.

It is possible that the appointment will be revealed when Euronext launches a Milan-based business plan on Nov. 9

Corriere dilla Sera, a daily newspaper on Saturday first reported the information.

Euronext, which manages the stock markets of Paris, Amsterdam, Brussels and Dublin, Lisbon and Milan, has completed the acquisition in April of Milan Stock Exchange in a deal worth 4.3 billion Euro ($5.00 Billion). This transaction transformed Italy into the company’s main trading hub and key revenue generator.

Borsa Italiana has taken over the London Stock Exchange’s Borsa Italiana. This is mainly due to Borsa being the owner of MTS (where Rome’s 2.37 trillion Euro government bonds are traded).

The deal also includes the addition of CDP, an Italian state investor and Intesa Sanpaolo, the largest bank in Italy (OTC:), to the Euronext core shareholders.

Sources claimed that Euronext would not be cutting Borsa Italiana’s jobs in its new business plan, which is contrary to the media reports.

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