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Deutsche Börse pitches LSE deal as winning euro-clearing biz for Frankfurt

Deutsche BörseAG CEO Carsten Kengeter will pitch the of as ameans for Frankfurt to win a key euro-denominated business, Bloomberg Newsreported July 8, citing "people familiar with his discussions."

European leaders have argued over which eurozone city shouldbecome the new center for euro clearing following the U.K.'s decision to leavethe EU in a June 23 referendum. Deutsche Börse may opt to headquarter themerged company outside the U.K., or create two holding companies, the newswirenoted.

German Finance Minister Wolfgang Schäuble said July 6 thatDeutsche Börse should still be subject to EU rules following the merger,Bloomberg noted.