Feb 25 (Reuters) – Activist hedge fund Elliott Management has told the British government it would not push to break up London Stock Exchange Group or move its listing to New York, the Financial Times reported on Wednesday, after the U.S. fund built a significant stake in the financial data and analytics company.
Elliott held talks with officials to allay concerns it could press for a break-up of LSEG or a spin-off of the London Stock Exchange, the group’s stock exchange business, the report said, citing people familiar with the matter.
Britain’s finance ministry and LSEG declined to comment, while Elliott did not immediately respond to request for comment.
The size of Elliott’s stake is unclear. Under UK rules, shareholders must disclose holdings above 3%.
Shares in LSEG closed up 1.5% at 77.94 pounds on Wednesday.
The FT first reported Elliott’s stake. Reuters confirmed on February 11 that Elliott was building a position, citing a person familiar with the matter.
Elliott is pressing LSEG to conduct a full review of its portfolio and launch a 5 billion pound ($6.78 billion) share buyback, a source told Reuters on February 18.
Reuters provides news and content for LSEG’s Workspace data terminal and other products.
($1 = 0.7375 pounds)
(Reporting by Disha Mishra and DhanushVignesh Babu in Bengaluru, William James in London; Editing by Tasim Zahid)
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