LSE to acquire Pearson’s FTSE stake

13 December 2011

The London Stock Exchange (LSE) Group is to invest in a second 50 per cent stake in the FTSE for £450 million and take control of the index.

Currently LSEG and Pearson both own 50 per cent shares in the firm - but the publisher has agreed to sell its share to the exchange as part of a deal which is expected to close by the end of the first quarter of 2012.

David Lester, director of information services at the LSE and chairman of FTSE International, said: “It is an excellent fit for our growing derivatives operations and will help us develop new tradeable products.”

Marjorie Scardino, Pearson’s chief executive, said: “For Pearson, the transaction further strengthens our financial position at a time of significant macroeconomic turbulence.”

The sale of Pearson’s share in the FTSE follows its previous sale of a stake in Interactive Data for $2 billion.

According to Pearson, the sale will enable it to expand in other business areas such as digital and subscription models.

Pearson is owned by the FT Group which is also responsible for managing Penguin books.

By Jim Ottewill

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