London Stock Exchange Q3 revenue up 2%, says Refinitiv savings on track

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The exchange said its total income on a pro forma underlying basis was 1.78 billion pounds ($2.46 billion) in the three months to the end of September, compared with 1.75 billion pounds a year ago.

“We are making excellent progress on the integration of Refinitiv and are comfortably on-track to achieve 125 million pounds of cost synergies in 2021, ahead of our original phasing,” chief executive David Schwimmer said in a statement.

Refinitiv was carved out from Thomson Reuters (NYSE:TRI), parent of Reuters News, in 2018 by a consortium led by Blackstone (NYSE:BX) before being bought by LSEG in a $27 billion deal finalised in January 2021.

Thomson Reuters now holds a minority stake in LSEG and Refinitiv pays Thomson Reuters for news it distributes.

($1 = 0.7249 pounds)

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