EU regulators halt LSE, Refinitiv probe, await data

EU regulators halt LSE, Refinitiv probe, await data

EU antitrust regulators have temporarily suspended their investigation into the London Stock Exchange's US$27 billion bid for data and analytics company Refinitiv while waiting for the companies to provide requested data.

FILE PHOTO: The Refinitiv logo is seen on a screen in offices in Canary Wharf in London
FILE PHOTO: The Refinitiv logo is seen on a screen in offices in Canary Wharf in London, Britain August 1, 2019. REUTERS/Toby Melville/File Photo

BRUSSELS: EU antitrust regulators have temporarily suspended their investigation into the London Stock Exchange's US$27 billion bid for data and analytics company Refinitiv while waiting for the companies to provide requested data.

The halt took effect on July 13, the European Commission said on Friday.

"This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU competition executive said.

"Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly."

Such pauses are common in the EU merger process but have become more frequent in recent months due to the coronavirus pandemic as companies struggle to gather details from their staff or suppliers.

LSE declined to comment. Refinitiv was not immediately available for comment.

Thomson Reuters , the parent company of Reuters News, holds a 45per cent stake in Refinitiv.

(Reporting by Foo Yun Chee, additional reporting by Pamela Barbaglia in London; Editing by Jon Boyle)

Source: Reuters

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