Thomson Reuters stock falls amid potential Refinitiv deal with London Stock Exchange

TORONTO – Shares of Thomson Reuters Inc. fell from last week’s highs amid news that it may sell its stake in Refinitiv to the company that owns the London Stock Exchange.

The Toronto-headquartered multinational currently owns 45 per cent of Refinitiv, which was formerly a wholly owned division of Thomson Reuters that collects company information for the investment industry.

Thomson Reuters said during the weekend that it would own 15 per cent of the LSE Group PLC under the proposed transaction, which values Refinitiv at US$27 billion including debt.

Canaccord Genuity estimates the Thomson Reuters share of Refinitiv’s equity would be worth about US$5.85 billion.

Thomson Reuters shares closed down $2.85 or 3.1 per cent to C$89.89 in Toronto and down US$2.11 or three per cent to US$68.30 in New York in Monday trading, below 52-week highs set on Friday.

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