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Rating:No Russell Deal Yet: LSE's Chief Touts Good Progress Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 06, 2015

No Russell Deal Yet: LSE's Chief Touts Good Progress

News summary by MFWire's editors

The LSE's chief says he's "making good progress" towards selling Russell Investments [profile], but there's no deal yet.

Arash Massoudi and Phillip Stafford of the Financial Times report that, per two unnamed sources, "a deal is not expected imminently." Yet Xavier Rolet, CEO of the LSE, says that the sale is "going according to plan."

"We've had very strong interest from four continents, a very long list of interested bidders," Rolet reportedly said. "It takes a disciplined analysis. These things do take a few months."

There's no updated word on the bidders for Russell. A month ago Reuters reported that Beijing-based CITIC Group Corporation, a giant conglomerate with a host of different business lines, was the lead bidder.

The LSE bought Frank Russell last year for its indexing business. Earlier this year the exchange hired J.P. Morgan, Barclays, and Goldman Sachs to sell of the asset management side of Russell. 

Edited by: Neil Anderson, Managing Editor

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