The LSE said its purchases would take its total ownership of the world’s largest clearing house to more than 80 per cent. Borsa Istanbul, CFT & Viel & Cie, Commerzbank, Deutsche Bank, Nasdaq and Nomura will sell their stakes. The LSE will pay for the holdings with a mixture of cash and debt and will close the deal by the end of the year, the exchange said.
The purchase is the first move by the LSE’s new chief executive David Schwimmer, who started in August, and comes as LCH’s role in global markets is in the spotlight because of the UK’s looming departure from the EU.[...]
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