London Stock Exchange has agreed to buy financial information provider Refinitiv...
LONDON - London Stock Exchange has agreed to buy financial information provider Refinitiv in a $27 billion deal aimed at offering trading across regions and currencies and establishing the British company as a rival to Bloomberg.
“Increasingly our customers want to trade across different regions and currencies,” LSE Chief Executive David Schwimmer told journalists of the rationale for the move. Robert will chair the enlarged company and Schwimmer will be CEO, while Refinitiv CEO David Craig will join LSE’s executive committee and continue to run that business.
Asset managers have told regulators that exchanges are charging too much for data on share prices and LSE stressed that it would retain its commitment to “open access” after the deal.“The issue is largely a U.S. issue in terms of concern around market data pricing,” Schwimmer said, adding that LSE had no plans for any divestments.
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