LONDON, March 2 Reuters London Stock Exchange Group announced plans to buy back more of its shares on Thursday as it raised its income growth outlook and highlighted its successful integration of Refinitiv, saying this had supercharged its ability to generate cash.

LSEG said it would seek shareholder consent to buy more of its own stock from a consortium of Blackstone and Thomson Reuters from which it acquired data analytics group Refinitiv for 27 billion in January 2021.

In addition to our existing share buyback, we are today announcing plans to seek shareholder approval for a buyback directed towards the BlackstoneThomson Reuters consortium39;s stake, which will benefit all shareholders, LSEG Chief Executive David Schwimmer said in a statement.

The Refinitiv deal transformed LSEG, with data and analytics accounting for 4.944 billion pounds 5.9 billion of its total income of 7.743 billion pounds in 2022, eclipsing the sums earned by its traditional exchange activities, including share trading, which go back more than 300 years.

We are accelerating delivery of our cost synergies and increasing our revenue synergy targets, Schwimmer said.

The directed buyback is expected to be up to 750 million pounds by April 2024, LSEG said.

Thomson Reuters, the parent company of Reuters News, and Blackstone did not immediately respond to requests for comment.

Schwimmer said the consortium owned just over 30 of LSEG shares when the Refinitiv deal was completed. Thomson…