(Reuters) - London Stock Exchange Group posted third-quarter revenue on Friday that fell short of analysts' expectations, hurt by an accounting change and lower-than-expected revenue at its capital markets unit and information services business.
LSE Group also said it was acquiring further an additional 15.1 percent of shares in its clearing arm LCH Group Holdings Limited for up to 438 million euros ($502 million), taking its majority ownership to over 80 percent.gi
The acquisition, which will be funded from cash and existing debt facilities, will add to earnings per share following completion, expected before the end of 2018.
LSE paid 15 euros per share to acquire a majority stake in LCH Clearnet in 2013. It bought additional stakes from minority shareholders in late 2017 and early 2018.
Total revenue rose 4.7 percent to 464 million pounds while total income from continuing operations rose 7.4 percent to 522 million pounds in the quarter ended Sept. 30.
Analysts had estimated income of 530 million pounds on revenue of 476 million pounds. Shares of the company traded 1 percent higher by 0720 GMT after a dip at the opening.
(Reporting by Arathy S Nair in Bengaluru, editing by Dasha Afanasieva/Keith Weir)