Skip to main content

Blackstone Group chief executive Stephen Schwarzman is seen speaking during the Milken Institute's 22nd annual Global Conference in Beverly Hills, Ca., on April 29, 2019.

MIKE BLAKE/Reuters

Blackstone Group Inc Chief Executive Stephen Schwarzman said the world’s biggest private equity firm cannot buy Bloomberg should it come up for sale as long as the firm owns competitor Refinitiv.

Schwarzman said that he did consider such an investment on reading the news that Mike Bloomberg would put his financial news and data provider up for sale if he became president of the United States.

“I wondered whether I should buy the firm, but I then I thought as long as we own Refinitiv, which is their competitor, we can’t,” he said at the SuperReturn private equity conference in Berlin.

Story continues below advertisement

Blackstone bought a 55% stake in Thomson Reuters’s data division in 2018, renamed later as Refinitiv, valuing the firm at $20 billion and making it the private equity firm’s biggest bet since the 2008 financial crisis.

The London Stock Exchange last year agreed to buy Refinitiv in an all-share deal valued at $27 billion including debt. Blackstone will retain a minority stake.

Schwarzman offered to buy a stake in Bloomberg back in 1988, but was ultimately thwarted by Mike Bloomberg’s stipulation that he should never sell the stake and stay a partner for life.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies