Euronext has offered €510m (€301m) for the London Stock Exchange's (LSE) French clearing house, LCH.Clearnet. The deal is expected to pave the way for LSE's £21bn ($26bn) deal with Germany's Deutsche Boerse, due to complete during H1 2017. Euronext, which owns the main stock exchanges in Paris, Belgium and Portugal, will hold a general meeting in Q1 2017 for stockholders to vote on the purchase. LCH had a gross income of €69m to June 2016, with net assets of $529m.
Euronext has offered €510m ($529m) for the London Stock Exchange's (LSE) French clearing house, LCH.Clearnet. The deal is expected to pave the way for LSE's £21bn ($26bn) deal with Germany's Deutsche Boerse, due to complete during H1 2017. Euronext, which owns the main stock exchanges in Paris, Belgium and Portugal, will hold a general meeting in Q1 2017 for stockholders to vote on the purchase. LCH had a gross income of €69m to June 2016, with net assets of €301m.