According to documents obtained by FO Week, UK
Competition Commission (UKCC) could require Euronext to divest
its 41.5% stake in LCH Clearnet (LCH-C) in order to proceed
with its takeover bid for London Stock Exchange (LSE).
Based on references from Office of Fair Trading, a summary
of provisional findings made by UKCC earlier this year found
that, to remedy to what it describes as "substantial lessening
of competition" in the event of the takeover, Euronext may be
required to "divest itself of control of LCH Clearnet
While LSE has responded in agreement with UKCC, responses
from market participants have been mixed.
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