London Stock Exchange Group on Friday said that it is in talks with LCH.Clearnet, Europe's last independent clearing house, saying takeover discussions are at an early stage and there was no certainty of an agreement.

The Financial Times reported that the LSE is bidding for a majority stake in LCH.Clearnet, valuing the company at €1bn ($1.43 bn). It said the move pits the LSE against market data firm Markit Group, a UK post-trade services group, for control of LCH.Clearnet, one of the most prized assets in the business of clearing equities and over-the-counter derivatives.