FTSE, TMX venture buys MTS' European government bonds indices business

Tue Apr 8, 2014 6:28am EDT

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(Reuters) - FTSE TMX Global Debt Capital Markets, a joint venture between FTSE Group and TMX Group's (X.TO) information services division, said on Tuesday it had bought the indices business of MTS, which is majority owned by London Stock Exchange Group (LSE.L).

MTS's indices business track the performance of the largest and most widely traded government issued securities in European bonds.

Under the agreement, MTS will initially hold a 3 percent stake in FTSE TMX Global Debt Capital Markets. FTSE will retain a 72.7 percent stake in the venture and TMX will have a 24.2 percent stake.

(Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)