After TMX failure, LSE nets Clearnet
Analysts said the deal was in line with the LSE’s strategy of diversification and having “horizontal” business activities connected with each other.
They said Clearnet was also a “trophy” consolation prize for the LSE’s aborted C$3.6 billion (£2.3bn) acquisition attempt on Canadian peer TMX last year.
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Hide AdThe LSE said it would hold up to 60 per cent of Clearnet, offering its owners €20 a share – implying a total value on the unlisted company of €813m (£681m).
LSE boss Xavier Rolet, who was bitterly disappointed shareholders turned down his bid for TMX, said yesterday: “This transaction delivers on our promise of 2009 to expand our operations.”