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LSEG reaffirms 2023 targets, seeks buyback shareholder approval
Thursday 27 April 2023
London Stock Exchange reaffirmed key financial targets ahead of its annual general meeting on Thursday to approve a previously announced buyback of shares from the Blackstone/Thomson Reuters consortium.
The Exchange Group bought Refinitiv, the consortium’s data and analytics business, for $27 billion in January 2021. Market data is now far bigger than the group's traditional exchange activities.
"As we continue our shift from integration to transformation, we are confident of making further progress through the rest of the year," CEO David Schwimmer said in a first quarter trading update.
The Group said it has made further progress with its on-market £750 million buyback programme, completing the second £250 million tranche in March, with the final tranche expected to be completed by July.
"In addition, at today's AGM, we are seeking shareholder approval for a directed buyback from the Blackstone/Thomson Reuters consortium, expected to be up to £750 million by April 2024," LSEG said.
Thomson Reuters holds a minority stake in LSEG, which pays Reuters for news. ■
- SOURCE
- Reuters
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