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Deutsche Boerse, LSE to formally offer sale of French clearing ops

Published 07/02/2017, 06:16
Updated 07/02/2017, 06:20
© Reuters.  Deutsche Boerse, LSE to formally offer sale of French clearing ops

FRANKFURT (Reuters) - Deutsche Boerse (DE:DB1Gn) and the London Stock Exchange (L:LSE) will formally offer to divest their French clearing business as a remedy to the European Commission to address anti-trust concerns in relation to the merger of the two exchange operators, Deutsche Boerse said.

The groups had already said last month they would sell the unit, LCH.Clearnet SA, to Euronext (PA:ENX) for 510 million euros (438.13 million pounds) as they seek to win regulatory approval for their proposed deal.

The European Commission has expressed antitrust concerns about the $28 billion merger and the impact on the clearing of derivatives contracts in particular.

($1 = 0.9335 euros)

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