LCH.Clearnet Aims For Independence

LCH.Clearnet is looking to buy-out its shareholders and move towards a user-owned operation, according to industry insiders.
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LCH.Clearnet is looking to buy-out its shareholders and move towards a user-owned operation, according to industry insiders.

The buy-out is set to counter a bid from the London Stock Exchange, Icap, and a group of eight banks, expected to be received next week.

Europes largest clearing house has also received a EUR10 per share offer from The Depository Trust & Clearing Corporation (DTCC). The in-house proposal is expected to better this offer.

If the buy-out is successful and independence is achieved, then the approximately 120 current shareholders would be invited to buy back their shares.

LCH.Clearnet is owned 73.3% by users, 10.9% by exchanges and 15.8% by Euroclear.

LCH.Clearnet declined to comment.

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