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London Stock Exchange Group expects to complete $27bn Refinitiv deal in the first quarter of 2021 - Financial News

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London Stock Exchange Group said it is aiming to complete its $27bn takeover of information provider Refinitiv by the first quarter of next year.

In a trading update on 23 October, the exchange firm said its proposed acquisition of Refinitiv was making “good progress”.

READ EU restarts probe into London Stock Exchange-Refinitiv merger

The deal has been beset by regulatory difficulties with the group having said at its half-year results in April that it hoped to complete the transaction in the second half of this year.

Last month the EU Commission restarted a probe into the deal on competition grounds, with a result expected in December.

LSE believes its proposed disposal of Italian stock exchange Borsa Italiana to Euronext for €4.3bn would help assuage the EU’s competition fears.

LSE chief executive David Schwimmer said: "We are making good progress on the highly attractive Refinitiv transaction, having secured further regulatory approvals around the world.

"We continue to engage constructively with the European Commission and believe the potential divestment of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns."

READ LSE wins resounding shareholder approval for $27bn Refinitiv deal

The group said its revenue rose 2% to £600m in the third quarter ended 30 September.

On a nine-month year-to-date basis total income was up 6% to £1.8bn, the company said.

To contact the author of this story with feedback or news, email James Booth

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London Stock Exchange Group expects to complete $27bn Refinitiv deal in the first quarter of 2021 - Financial News
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