Thomson Reuters launches $9 billion share buyback

FILE PHOTO: The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly - Copyright Andrew Kelly(Reuters)

By Reuters

Published on 28/08/2018 - 17:34•Updated 26/04/2024 - 02:09

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(Reuters) - Thomson Reuters <TRI.TO> <TRI.N> will buy back $9 billion (£7 billion) worth of its common stock using the proceeds of the sale of the majority of its Financial and Risk business to Blackstone Group LP <BX.N>, the news and data firm said in a statement on Tuesday.

The company also said it and Blackstone agreed to close the sale on Oct. 1.