* LSE offers "behavioural" remedies - sources
* Brussels to ask competitors for views - sources
* Brussels to rule on takeover on Jan 15
(Adds more detail)
By Foo Yun Chee and Huw Jones
BRUSSELS/LONDON, Nov 5 (Reuters) - London Stock Exchange
has offered to allow rivals non-discriminatory access to
clearing and data to try and win over antitrust regulators
investigating its $27 billion bid for data provider Refinitiv,
people familiar with the matter said.
The pledge is part of a package submitted to the European
Commission earlier on Thursday, which also included the sale of
its Borsa Italiana operations to pan-European exchange Euronext
.
The European Union competition enforcer is concerned that
creating a more vertically integrated company that combines the
origination and distribution of data, and strengthening areas
like clearing would make it easy to lock out competitors or to
keep prices for data too high, the people said.
The LSE declined to comment.
The Commission had narrowed its list of concerns in its
charge sheet known as a statement of objections sent to LSE last
month, one of the people said, suggesting that even worries
about so-called "partial foreclosure" of data are not very
strong.
Partial foreclosure refers to an ability of vertically
integrated groups to hamper rival access to services or reduce
the incentive to compete.
Concessions to address these vertical concerns are typically
licensing access or "behavioural" remedies, they said, meaning
the LSE is now likely to escape structural remedies beyond the
sale of Borsa Italiana.
Refinitiv is 45% owned by Thomson Reuters, the parent
company of Reuters News.
A European Commission filing on Thursday said that the
London exchange group has offered concessions.
The EU executive body, which oversees competition policy in
the 27-nation bloc, will now have until Jan. 15 to make a
decision. It had previously set a deadline of Dec. 16.
On Tuesday shareholders in the LSE voted in favour of
selling Borsa Italiana to Euronext for 4.3 billion euros,
contingent on Brussels approving the takeover of Refinitiv.
LSE CEO David Schwimmer said last month that the sale of
Borsa will contribute significantly to addressing EU competition
concerns.
The EU executive will now seek feedback from rivals and
customers on the LSE's proposed remedies as soon as Friday,
before deciding whether to accept the offer or demand more.
(Reporting by Foo Yun Chee in Brussels and Huw Jones in London;
Editing by Jon Boyle and Emelia Sithole-Matarise)
