Euronext has entered exclusive talks over the acquisition of the French operations of LCH.Clearnet pending the successful closing of the merger between the London Stock Exchange and Deutsche Bourse.
The LSE is looking to offload the business in response to anti-trust concerns raised by the European Commission in relation to the blockbuster merger between the German and London exchange operators.
In a brief statement, the two exchanges say: "Any potential sale of LCH.Clearnet SA would be subject to the review and approval by the European Commission in connection with the recommended merger of DBAG and LSEG which was announced on 16 March 2016 and other customary conditions including relevant regulatory approvals. It would also be conditional on the successful closing of the merger."
All parties to the proposed deal caution that there can be no certainty that the preliminary talks will lead to a transaction, or the terms of a takeover.