July 31, 2020 / 6:23 AM / 12 days ago

London Stock Exchange may sell Milan bourse to secure Refinitiv deal

LONDON, July 31 (Reuters) - The London Stock Exchange on Friday said it may consider selling part or all of its Italian stock exchange group to help get its planned $27 billion takeover of data and analytics group Refinitiv approved.

LSE said that it expects to complete the Refinitiv deal by early 2021, indicating a potentially longer timeline as it tries to win approval from European competition regulators.

In reporting half-yearly earnings, the exchange said it was seeing good progress with foreign investment, antitrust and other regulatory approvals for the Refinitiv transaction, and that integration planning is well developed.

“We expect to close the transaction by the end of the year or in early 2021,” LSE Chief Executive David Schwimmer said in a statement. (Reporting by Huw Jones Editing by Rachel Armstrong)

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