EU approves Blackstone's Thomson Reuters deal

The Commission said it did not see any competition concerns despite the overlaps between the two companies.

“The proposed transaction would raise no competition concerns given the limited market shares of the companies, the fact that a number of competitors will remain in the market post-transaction, and the fact that Blackstone accounts for only a minimal share of the demand for Thomson Reuters F&R’s products,” it said.

Blackstone’s $20 billion bid for 55 per cent of Thomson Reuters’ largest unit was announced six months ago. It involves the transfer of 22,000 of Thomson Reuters' 45,000 staff to a new business controlled by Blackstone. ■