LSE bid for majority stake in LCH.Clearnet: FT
People walk through the lobby of the London Stock Exchange August 5, 2011.
Credit: Reuters/Suzanne Plunkett
LONDON |
LONDON (Reuters) - The London Stock Exchange (LSE.L) has made a bid for a majority stake in LCH.Clearnet, the Financial Times reported on Friday.
The newspaper said the bid values Europe's last remaining independent clearing house at about 1 billion euros ($1.4 billion).
The move is seen as raising the stakes in the battle between the LSE against Markit, a UK post-trade services group, for control of the prized asset.
Earlier this year the LSE denied it was in talks with LCH.Clearnet following speculation in media reports that it had been one of a number of exchanges, including NYSE Euronext (NYX.N) and Nasdaq OMX Group (NDAQ.O), that had made a bid for the European clearinghouse.
The LSE was unavailable for immediate comment.
(Reporting by Stephen Mangan; editing by Carol Bishopric)
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