19 August 2017
Find out more

LSE closes on joint venture deal with Turquoise owners - Bloomberg

15 December 2009  |  6759 views  |  0 stock quotes

The London Stock Exchange is close to agreeing a deal that would give it a 60% stake in a joint venture company combining its Baikal dark pool with investment-bank owned Turquoise MTF, according to Bloomberg.

Citing three unidentified people familiar with the talks, Bloomberg says the LSE would provide a £25 million cash injection to Turquoise in return for its stake.

The London exchange, which is also talking to other banks interested in joining the venture, has the option to reduce its stake to 51%, the people said.

The nine shareholders of Turquoise will own about 40% of the venture, which will retain the Turquoise name, but will operate on technology supplied by the LSE tech subsidiary MillenniumIT.

The newswire says an agreement could be tied-up by the end of the year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

LSE introduces hidden orders; delays Baikal

LSE introduces hidden orders; delays Baikal

09 November 2009  |  9043 views  |  0 comments
LSE in talks to buy Turquoise

LSE in talks to buy Turquoise

01 October 2009  |  8194 views  |  1 comments
LSE confirms £18m MillenniumIT deal

LSE confirms £18m MillenniumIT deal

16 September 2009  |  9327 views  |  0 comments
Turquoise looks for buyer

Turquoise looks for buyer

18 August 2009  |  7537 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8866 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7782 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7101 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6408 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6269 views comments | 11 tweets | 9 linkedin

Featured job

Find your next job