LCH.Clearnet has said it plans to buy back up to 44.4% of its shares in a voluntary redemption scheme, subject to approval by its shareholders. The independent clearing house said the restructuring plan would allow it to “work more closely with its customers, in order to capitalise on opportunities for clearing new markets, and will make it easier to counter competitive pressures by reducing fees”.
The clearing house is offering to buy up to 33.3m shares for €10 a share...