Thomson Reuters to quit London Stock Exchange

The company said it would also remove its shares from NASDAQ and remain listed only on the New York and Toronto exchanges.

Chief executive Tom Glocer played down concerns that Thomson Reuters could lose any UK-based shareholders through the action, noting that only five per cent of all shareholders are in the United Kingdom. He expressed hope that those shareholders would retain their holdings even after the delisting.

"Our shares are now fragmented, divided between North America and London in a way we didn't envision. That's hurting the company because there are investors who would come in but won't," Glocer said in a telephone interview with Reuters.

Thomson Reuters said it would seek shareholder approval for the London and NASDAQ delistings on 7 August.

"In a global electronic world where shares are trading in ones and zeros ... where we trade our shares is, to me, plumbing," Glocer said. "I think we shouldn't get too hung up ... London is still the second largest centre that we've got."

Thomson Reuters shares closed down 78 cents to C$33.53 on the Toronto Stock Exchange and down 94 cents at $29.08 on the New York Stock Exchange. ■