February 27, 2020 / 10:00 AM / a month ago

Blackstone's Schwarzman says cannot buy Bloomberg while owning Refinitiv

FILE PHOTO: Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker event in New York, U.S., November 6, 2019. REUTERS/Gary He

BERLIN (Reuters) - Blackstone Group Inc (BX.N) Chief Executive Stephen Schwarzman said the world’s biggest private equity firm cannot buy Bloomberg should it come up for sale as long as the firm owns competitor Refinitiv.

Schwarzman said that he did consider such an investment on reading the news that Mike Bloomberg would put his financial news and data provider up for sale if he became president of the United States.

“I wondered whether I should buy the firm, but I then I thought as long as we own Refinitiv, which is their competitor, we can’t,” he said at the SuperReturn private equity conference in Berlin.

Reporting by Abhinav Ramnarayan and Chibuike Oguh; editing by David Evans

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