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London Stock Exchange bullish as $27bn deal nears

by LLB Editor
23rd Oct 20 9:34 am

The London Stock Exchange aims to seal its $27bn purchase of data analytics company Refinitiv in the first-quarter of next year, the group said today as it reported forecast-beating third-quarter income.

LSE said its total income climbed to £600m for the three months ended September 30, beating an analyst consensus of £592m.

Its post-trade division, which includes clearing house LCH, recorded the strongest growth at 5%.

Commenting on performance in Q3, David Schwimmer, CEO said, “The Group delivered a resilient performance in the quarter against a challenging market backdrop while we continue to execute our strategic plans across our business. We remain focused on our strong operational resilience, continuity of services to our customers and market participants, and the wellbeing of our employees, the majority of whom continue to work remotely.

“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.”

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