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LCH.Clearnet bid talks continue

LCH.Clearnet, Europe’s largest clearing house, will commence talks today with the consortium which has put forward a £727m bid for the business. The 13-strong consortium – made up of 11 banks, inter-dealer broker ICAP and existing shareholder the London Metal Exchange – outbid US clearer Depository Trust & Clearing Corporation earlier this year. But the LCH board is still believed to keen on its own financial model for the business, which would see its 15 largest customers take a 75 per cent stake.