Reuters to acquire Telerate next week - sources
17 December 2004 | 6640 views | 0
Reuters' long-awaited acquisition of market data provider Telerate could go ahead next week according to market sources.
Reuters has been rumoured to be negotiating a deal for the company with Telerate owner One Equity Partners since rival vendor Thomson bought out electronic fixed income network TradeWeb in May.
Dow Jones reported back in July that Reuters was about to submit a deal to One Equity Partners that valued Telerate at between $200m to $300m. The proposed deal was thought to be a mixture of cash and stocks.
Reuters turned down the opportunity to acquire Telerate when it was sold from Bridge for about $15 million three years ago.
Last week the UK's Daily Telegraph reported that Michael Bloomberg had plans to sell his financial news company. Proceeds of the sale - which would be likely to amount to billions of dollars - may be placed in a charitable trust, according to the report.