Bloomberg News

Singapore Exchange Declines to Comment on LCH Acquisition Report

February 04, 2013

Singapore Exchange Ltd. (SGX), operator of Southeast Asia’s biggest stock market, declined to comment on a Financial Times report that it is in talks with LCH.Clearnet.

Singapore Exchange is in negotiations to buy a stake in LCH Clearnet Ltd., Europe’s biggest clearinghouse, or to become part of the deal in which the London Stock Exchange Group Plc is set to take a controlling 60 percent, the FT reported, citing three people familiar with the situation.

“As the Asian Gateway, SGX is open to partnerships and alliances for the benefit of shareholders, the company and our customers,” Carolyn Lim, an SGX spokeswoman, said in an e-mail. “However, we do not comment on media reports or speculation.”

Singapore Exchange failed in a 2010 bid to purchase Australia’s main bourse operator, ASX Ltd. The London Stock Exchange provisionally agreed to pay 15 euros a share for a majority stake in LCH.Clearnet in December as the two companies extended the deadline for takeover negotiations until Jan. 31.

LSE scrapped its $3.4 billion bid for TMX Group Inc., owner of the Toronto Stock Exchange, in June 2011 after failing to win support from TMX shareholders. SGX’s $8.8 billion bid for ASX Ltd. collapsed after Australian Treasurer Wayne Swan said in April 2011 the deal wasn’t in the national interest.

To contact the reporters on this story: Eleni Himaras in Hong Kong at ehimaras@bloomberg.net; Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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