February 7, 2017 / 6:14 AM / 6 months ago

Deutsche Boerse, LSE to formally offer sale of French clearing ops

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The plaque of the Deutsche Boerse AG is pictured at the entrance of the Frankfurt stock exchange February 1, 2012.Alex Domanski/File Photo

FRANKFURT (Reuters) - Deutsche Boerse (DB1Gn.DE) and the London Stock Exchange (LSE.L) will formally offer to divest their French clearing business as a remedy to the European Commission to address anti-trust concerns in relation to the merger of the two exchange operators, Deutsche Boerse said.

The groups had already said last month they would sell the unit, LCH.Clearnet SA, to Euronext (ENX.PA) for 510 million euros ($546 million), as they seek to win regulatory approval for their proposed deal.

The European Commission has expressed antitrust concerns about the $28 billion merger and the impact on the clearing of derivatives contracts in particular.

Reporting by Maria Sheahan; Editing by Kim Coghill

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