Refinitiv said to be exploring sale of financial media unit
Friday 26 October 2018
Refinitiv, the Thomson Reuters terminals and data business now controlled by private equity investors, is exploring the sale of its International Financing Review media division, according to Bloomberg.
IFR produces a weekly magazine covering capital markets, as well as daily news bulletins and online market commentary and analysis for finance professionals.
Quoting “people with knowledge of the matter” Bloomberg said Refinitiv has already been in touch with some potential buyers.
Publisher Euromoney Institutional Investor and ratings company Moody’s may be among the potential suitors, they said.
Representatives for Refinitiv, IFR, Euromoney and Moody’s declined to comment. The discussions are in early stages and may not lead to a sale, the people said.
Blackstone has said it intends to review Refinitiv’s operations to determine how it can best cut costs and boost profits following the $20 billion acquisition of 55 per cent of Thomson Reuters' financial and risk division.
Bloomberg said the new owners have also been considering the sale of its FXAll currency trading platform in a deal that could fetch more than $3 billion, a person familiar with the matter said last month.
Refinitiv is considering an initial public offering as an option for Tradeweb, its bond trading unit, chief executive David Craig indicated in an interview with Financial News last week. ■