LSE sells Italian services arm to Computershare

It is selling Servizio Titoli, part of Milan's Borsa Italiana which the LSE bought for 1.5 billion (£1.31 billion) four years ago, to Computershare for 30 million upfront and a possible further 2.4 million.

Servizio Tivoli, which supplies shareholder services to Italian quoted companies, had revenues of 9.3 million in the year to March 2010. The sell-off continues LSE chief executive Xavier Rolet's concentration on its core business.