New York Stock Exchange owner plots £10bn LSE bid


The owner of the New York Stock Exchange has secured funding from a group of American and Asian banks as it plots a £10bn bid for the London Stock Exchange, Sky News reports.

According to the report, InterContinental Exchange has reached an agreement with Morgan Stanley, Wells Fargo and Japan’s Mitsubishi UFJ to provide part of the debt that will be required to fund a bid for the LSE.

Other lenders are set to be added to the group in the coming weeks.

News of the potential bid comes after the LSE and Deutsche Boerse, its German equivalent, confirmed last month they would press ahead with a proposed £21bn merger. However, the deal has yet to be finalised.