April 21, 2020 / 10:27 AM / 4 months ago

LSE says no plans to revisit savings target from Refinitiv deal

FILE PHOTO: CEO of London Stock Exchange Group David Schwimmer speaks during an event to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) at Guildhall in London, Britain, February 27, 2020. Tolga Akmen/Pool via REUTERS/File Photo

LONDON (Reuters) - The London Stock Exchange said it has no plans to change its targets for synergies from its planned $27 billion takeover of data and analytics company Refinitiv.

“There are no plans to change anything in terms of target synergies,” LSE Chief Executive David Schwimmer told an analyst conference call.

Schwimmer said the recurring nature of Refinitiv’s income is an “attractive element” that offers resiliency.

The financing “bridge” from banks for buying Refinitiv purchase can be extended to 2021 if need be, LSE Chief Financial Officer David Warren said.

Reporting by Huw Jones, editing by Louise Heavens

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