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UK: London Stock Exchange agrees to buy Refinitiv in US$27B deal

 |  August 1, 2019

London Stock Exchange (LSE) has agreed to buy financial information provider Refinitiv in a US$27 billion deal aimed at offering trading across regions and currencies and establishing the British company as a rival to Bloomberg, reported Reuters.

The deal, which was confirmed on Thursday, August 1, and is subject to regulatory and shareholder approval, will expand LSE’s trading business beyond shares and derivatives into currencies and make it a major distributor as well as creator of market data.

“This transaction is a defining moment for LSE in terms of its strategic importance,” LSE Chairman Don Robert said of the purchase, which comes ten months after a consortium led by US private equity group Blackstone completed a leveraged buyout of Refinitiv from Thomson Reuters.

“Increasingly our customers want to trade across different regions and currencies,” LSE CEO David Schwimmer told journalists of the rationale for the move.

Full Content: Reuters

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