(Bloomberg) -- Deutsche Boerse AG expects talks to buy some of Refinitiv's foreign exchange business units to fail after the London Stock Exchange Group Plc said it wants to acquire the entire financial data and trading platform provider.
The German stock exchange operator said in a brief statement that it doesn't expect a successful completion of talks with Refinitiv after learning LSE was planning to acquire Refinitiv in a $27 billion deal that would boost the U.K. firm's fastest-growing business.
News of the LSE talks with Refinitiv emerged on Friday. A deal could be announced as soon as next week, according to people familiar with the situation who asked not to be identified because the discussions are private.
Deutsche Boerse Chief Executive Officer Theodor Weimer has said that many potential acquisition targets are too expensive and has promised investors that he won't overpay. Buying Refinitiv's currency trading platform known as Fxall would have added to the German exchange's existing currency platforms 360T and GTX.
To contact the reporter on this story: William Wilkes in Frankfurt at wwilkes1@bloomberg.net
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Sara Marley, Andrew Davis
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
