London Stock Exchange Reportedly Set To Win EU Approval For $27B Refinitiv Deal

The London Stock Exchange could soon see its $27-billion acquisition of data analytics company Refinitiv receive European Union antitrust approval, Reuters reported Wednesday, citing people familiar with the matter. 

What Happened: The LSE first proposed an all-stock acquisition of Refinitiv in August 2019.

The European Commission is scheduled to decide on the deal by Jan. 21, according to Reuters. 

In October, the LSE agreed to sell Borsa Italiana Group to a group led by its rival Euronext — a divestment meant to smooth approval of its acquisition of Refinitiv, according to The Wall Street Journal.

Why It Matters: LSE is a major distributor and creator of market data, and Refinitiv is one of the world’s largest providers of financial markets data and infrastructure.

Refinitiv is 45% owned by Reuters parent Thomson Reuters.

If the LSE transaction is approved, it will create a leading, U.K.-headquartered, global financial market infrastructure provider with a data and analytics business, significant capital market capabilities across multiple asset classes and a broad post-trade offering.

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