London Stock Exchange Group plc: Refinitiv acquisition is credit negative, but related disposal of Borsa Italiana will absorb the blow
The debt leverage and integration risk of the combination with Refinitiv outweigh its scale, diversification and growth benefits, but the Borsa Italiana Group disposal will even the balance.London Stock Exchange Group is a global markets infrastructure business based in the United Kingdom. Co's operating segments include: Information Services, which provides a range of information and data products including indexes and benchmarks; Post Trade Services LCH, which provides clearing services through which counterparty risk is mitigated across multiple asset classes; Capital Markets, provides access to capital for domestic and international businesses and electronic platforms for secondary market trading of equities, bonds and derivatives; and Group Technology, which provides secure technologies to customers that require performance at high levels of availability and throughput.
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