The latest round of stock exchange consolidation has London possibly teaming up with Milan.

The London Stock Exchange Group plc has issued a statement, in response to recent press speculation, confirming that it is in discussions with Borsa Italiana S.p.A. to establish whether a merger of the two businesses can be agreed. The LSE says that its board “will make a further announcement as appropriate”.

The LSE has already fought off takeover attempts by the Nasdaq Stock Market, among several other suitors.

For its part, the Borsa tried to team up with the Deutsche Borse last year, in an effort to acquire Euronext NV, creating a pan-European exchange group. However, the German and Italian groups ultimately abandoned that effort, and Euronext was bought by NYSE Group Inc.