July 17, 2020 / 10:50 AM / a month ago

EU regulators halt LSE, Refinitiv probe, await data

The Refinitiv logo is seen on a large screen in Canary Wharf in London, Britain August 1, 2019. REUTERS/Toby Melville

BRUSSELS (Reuters) - EU antitrust regulators have temporarily suspended their investigation into the London Stock Exchange’s $27 billion bid for data and analytics company Refinitiv while waiting for the companies to provide requested data.

The halt took effect on July 13, the European Commission said on Friday.

“This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them,” the EU competition executive said.

“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly.”

Such pauses are common in the EU merger process but have become more frequent in recent months due to the coronavirus pandemic as companies struggle to gather details from their staff or suppliers.

LSE declined to comment. Refinitiv was not immediately available for comment.

Thomson Reuters, the parent company of Reuters News, holds a 45% stake in Refinitiv.

Reporting by Foo Yun Chee, additional reporting by Pamela Barbaglia in London; Editing by Jon Boyle

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