Euronext eyes EUR 400m bid for LSE LCH SA clearing house - report
Euronext [EPA: ENX], the operator of several European bourses, is examining a EUR 400m bid for the London Stock Exchange [LON:LSE]’s LCH SA clearing house in Paris, The Sunday Times reported, citing City sources.
The LSE hopes to sell the French clearing house operation to get its GBP 21bn (EUR 24bn) merger with Deutsche Boerse[ETR:DB1] past regulators, the report noted. Although Euronext has been vocally opposed to the merger, it has started internally to look at moving on LCH SA, according to the sources.
Analysts believe LCH SA might have a value of EUR 400m-EUR 500m but would be worth less in a sale as the LSE is under pressure to make the disposal, the item reported.