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Climate Exchange move should pay off for ICE, says analyst
06 May 2010
Intercontinental Exchange’s £395m ($604m) takeover of Climate Exchange will give the group a further grip on the booming European energy markets, a senior London-based analyst has said.
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[Intercontinental Exchange]
[ICE Climate Exchange]
[European energy markets]
[carbon]
[CER]
[EUA]
[Chicago Climate Exchange]
[Chicago Futures Climate Exchange]
[European Climate Exchange]
Intercontinental Exchange’s £395m ($604m) takeover of Climate Exchange will give the group a further grip on the booming European energy markets, a senior London-based analyst has said.
“If you have the cash and you can use the equity, then it’s a good time to buy", the analyst told FOW. "The Climate Exchange’s market cap is $350m, so it’s still trading on a substantial premium – its trading on 44-times current earnings. [But] it’s moving in the right direction, at least.”
This morning, the US-based exchange group said it had agreed terms for a...
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