UPDATE 1-Activist investor Elliott builds stake in LSEG, FT reports

Adds details from FT report, context and background throughout

Feb 11 (Reuters) - Activist investor Elliott has built a "significant" stake in the London Stock Exchange Group LSEG.L and is engaging with the company to drive performance, the Financial Times reported on Wednesday, citing people familiar with the matter.

Elliott Management's exact shareholding was unclear, the report said, adding that the fund had been in talks with LSEG to help engineer an improvement, and encourage the group to consider a fresh share buyback and focus on closing in on rivals.

Data and analytics group LSEG, which also operates the London Stock Exchange, has been battling concerns that rising competition and artificial intelligence will squeeze its income. Its stock price has fallen by more than 35% in the past 12 months.

Elliott and LSEG did not immediately respond to Reuters' requests for comment. They had declined to comment when contacted by the FT.

Reuters provides news for LSEG's flagship news and data terminal Workspace.

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