Clearstream invites takeover bids - FT

Clearstream invites takeover bids - FT

The Financial Times is reporting that international clearing and settlement agency Clearstream has invited Deutsche Börse and Euroclear to submit takeover bids by close of play today.

The Financial Times report say Luxembourg-based Clearstream's board is understood to have invited both Deutsche Börse and Euroclear to lodge proposals by the close of business on Wednesday, outlining their indicative valuations and their plans for the business if they were to acquire full ownership.

The invitation to both groups is an attempt by Andre Roelants, Clearstream's chief executive, to sort out the clearing house's future after a troubled few months since a former chief executive, Andre Lussi, was ousted amid an investigation by the Luxembourg authorities into allegations of money laundering, writes the paper.

Clearstream has been at the centre of takeover speculation for many months. The impetus for change is understood to come from Cedel, Deutsche Börse's co-shareholder in Clearstream.

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