Thomson Reuters, Refinitiv managers to sell 10.5 million voting shares in LSE, bookrunner says


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.