The London Stock Exchange Group Plc is in talks to combine with Refinitiv, less ...
) acquired a majority stake in the data analytics platform in a $20 billion deal, a person familiar with the matter said on Friday.
Professional information provider Thomson Reuters Corp , the parent of Reuters News, owns a 45% stake in Refinitiv. “The global exchanges are focusing more and more on data and technology as revenue drivers, and less on the actual matching of buys and sells,” said Kevin McPartland, head of market structure and technology research at Greenwich Associates.
Buying Refinitiv could help soften the blow for LSE from a bout of market volatility that is expected should Britain leave the European Union by an Oct. 31 deadline without an exit deal. Under Blackstone’s majority ownership, Refinitiv has been shedding non-core assets. In April, it launched an initial public offering of Tradeweb Markets Inc , an electronic trading platform for bonds and derivative instruments.
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