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EXCLUSIVE-LSE to put Russell Investments up for sale for $1.4 bln

Reuters - UK Focus

Jan 28 (Reuters) - The London Stock Exchange Group Plc plans to put Russell Investments up for sale in mid-February and hopes to fetch around $1.4 billion for the unit, two sources told Reuters Wednesday.

The exchange operator has tapped Barclays (LSE: BARC.L - news) to sell the business, according to the sources, who wished to remain anonymous because they are unauthorized to speak to the media.

The exchange operator has decided to run a formal sales process after having informal conversations with at least three interested buyers, including the Canadian Imperial Bank of Commerce, the sources said.

Spokesmen for LSE, CIBC and Barclays declined to comment. (Reporting by Jessica Toonkel; Editing by Richard Chang)