London Stock Exchange to shell out £384m for larger stake in clearing house LCH.

The move will bring London Stock Exchange Group’s holding to over 80%.

The London Stock Exchange is set to shell out 438 million euro (£384 million) to up its stake in British clearing house LCH despite uncertainty over the regulation of euro clearing contracts post-Brexit.

The group said on Friday that it plans to acquire an additional stake of up to 15.1% in the business, bringing its total holding to over 80%.

Chief executive David Schwimmer said the move reflects the group’s “continued confidence in LCH’s opportunities for further growth as it develops its business in partnership with its customers”.

Full story at Belfast Telegraph.