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

(Reuters) – 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.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Edmund Blair)

Read the original article on Business Insider

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