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LSE Q3 Total Income Up 2%; Expects To Complete Refinitiv Deal In Q1

London Stock Exchange Group Plc. (LSE.L) reported that its third-quarter total income rose 2% to 600 million pounds and rose 3% at Organic and constant currency basis. It said its proposed acquisition of Refinitiv continues to make good progress and expects to complete the Refinitiv deal in the first-quarter of 2021.

In information services, third-quarter revenues were up 1% to 223 million pounds and up 4% on an organic and constant currency basis.

In post trade, quarterly income rose 5% to 259 million pounds.

In Capital Markets, quarterly revenues flat on prior year at 102 million pounds.

LSEG noted that its financial position remains strong with a good level of funding flexibility in place. As at 30 September 2020, the Group had available committed facility headroom of 757 million pounds having paid the interim dividend to shareholders.

Earlier this month, London Stock Exchange Group entered into an agreement to sell its entire shareholdings in London Stock Exchange Group Holdings Italia S.p.A., the parent company of the Borsa Italiana group, to Euronext for an all cash consideration of 4.325 billion euros.

The transaction is conditional upon the disposal of the Borsa Italiana group or any material part there of being a condition of any european commission clearance decision for the Refinitiv Transaction.

It was in August 2019 that the LSEG agreed to acquire Refinitiv in an all share transaction for a total enterprise value of about $27 billion.

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