According to the Financial Times, the London Stock Exchange Group (LSE) will soon submit an agreement to acquire financial data provider Refinitiv. The $ 27 billion deal needs approval from European regulators, which will expand LSE's reach. It is reported that LSE's most well-known business is the stock listing business in the UK, and this will be one of the largest transactions in 2020. The Financial Times states: "LSE will shift from relying on unbalanced trading income to data distribution, analysis and indexing, becoming one of the largest exchange operators on par with the CME and Intercontinental Exchange (ICE). "The two companies will face a lengthy process before the merger, as regulators first need to review whether this will lead to a significant reduction in customer choice. Refinitiv is a company with 18,000 employees dedicated to providing market data and is jointly owned by Blockstone and Thomson Reuters.