London Stock Exchange Group PLC will file its $27 billion deal to acquire data analytics platform Refinitiv Holdings Ltd. with EU authorities within weeks for competition assessment, the Financial Times reported.
It comes amid prolonged talks between LSE and EU antitrust authorities, with the key issue being the definition of the market against which the acquisition would be assessed, the Jan. 13 report said, citing two people with knowledge of the talks.
In order to dampen concerns likely to be brought by rivals, companies normally choose to adopt a broad market definition, the FT noted.
According to the people, LSE argued that Refinitiv has many competitors in the data services market. An analysis of a merger like the one between LSE and Refinitiv is "very fact intensive," one person with direct knowledge of the transaction told the newspaper.
The deal will see LSE's revenues rise to £7 billion upon completion, which is expected in the second half of 2020, the FT noted.
In December 2019, LSE reportedly said its unit Borsa Italiana SpA was not up for sale amid speculation that the group might off-load some assets to gain antitrust approval.