Reuters close to acquiring Telerate

Reuters close to acquiring Telerate

Reuters is close to buying rival market data provider Telerate, according to a report by Dow Jones Newswires which cites an un-named source.

It is reported that Reuters may submit a proposal to One Equity Partners, current owner of Telerate, within weeks. The proposed deal values Telerate at between $200m to $300m and any payment made by Reuters would be a mixture of cash and stocks.

Rumours have been buzzing about a possible deal between Reuters and One Equity Partners since Thomson bought out electronic fixed income network TradeWeb in May. Reuters rejected the opportunity to acquire Telerate when it was sold from Bridge for about $15 million three years ago.

According to the Dow Jones report, Telerate has customers with 35,000 positions in the US, Europe and Asia and the acquisition would help Reuters boost market share.

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