TORONTO — Shares of Thomson Reuters Inc. are down slightly 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 traded at C$90.33 in Toronto and US$70.23 shortly after North American markets opened Monday, a few cents below 52-week highs set on Friday.
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