Thomson Reuters Corp and members of Refinitiv’s management plan to indirectly sell about 10.5 million voting shares in London Stock Exchange Group, joint bookrunner J.P. Morgan Securities said in a statement on Thursday.
The sale, which comes weeks after LSE completed its $27 billion purchase of data and analytics business Refinitiv, represents around a 1.9% economic stake and 2.1% voting interest in the bourse, J.P. Morgan said.
LSE will not get any proceeds from the sale, it said.
The sale is in line with a lock-up agreement that permitted Toronto-headquartered Thomson Reuters and Refinitiv management to sell some LSE shares to settle tax liabilities, the bookrunner said.
Thomson Reuters, the parent company of Reuters News, currently holds around a 15% stake in LSE.