Deals
LSE Plans French Clearing Unit Sale to Appease EU Regulators
- EU flags concerns about combined clearing houses, derivatives
- Regulators set a Feb. 13 deadline in a wide-ranging probe
This article is for subscribers only.
London Stock Exchange Group Plc plans to sell its French clearing unit to win over European Union watchdogs scrutinizing the company’s acquisition by Deutsche Boerse AG. The companies are seeking to create Europe’s dominant exchange operator.
An LSE statement about the sale of LCH SA came immediately after the European Commission’s widely expected announcement that it’s opening a broad-ranging investigation into overlaps between the London- and Frankfurt-based companies. LSE is keeping its larger London clearing unit. Competition authorities set a Feb. 13 deadline for the probe.