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LSE nearing French clearing biz sale to Euronext

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LSE nearing French clearing biz sale to Euronext

London Stock Exchange Group Plc is poised to announce the sale of its Paris-based clearing business, LCH.Clearnet SA, to Euronext NV within days, the Financial Times reported.

LSE and Euronext had sought to sign a deal before Christmas but delayed the announcement due to a disagreement over terms that "two people briefed on the talks" said has now been resolved, the report noted. An announcement is expected to come in the week of Dec. 26.

The deal, which could be valued at approximately €510 million, is believed to help LSE's merger with Deutsche Börse AG obtain approval from European competition authorities.

LSE and Deutsche Börse recently received a statement of objections from the European Commission related to their proposed all-share merger, containing "a narrower scope of issues" compared with when the EC opened an in-depth investigation into the merger at the end of September.

The commission is due to make a final decision by March 6, 2017.