17 August 2017
Find out more

Reuters ready to make sacrifices to win merger approval - Sunday Telegraph

09 July 2007  |  6842 views  |  0 Reuters Sign, 3 Times Square

Reuters is prepared to sacrifice its fixed income trading platform and Multex databases dealing with Estimates and Fundamentals in order to win regulatory approval for its $8.8 billion merger with Thomson, according to reports in the Sunday Telegraph.

The UK broadsheet says company representatives have already flown to Brussels to meet regulators, and the US Department of Justice has begun interviewing interested parties as part of a so-called Second Request process, which will determine whether the deal harms competitiveness or consumer welfare.

The prime candidates for disposal are Reuters' electronic bond trading platform and two databases that collect financial statements and press releases from 50,000 firms, as well as forecast data from analysts at 600 brokers.

According to the report, Reuters' Trading for Fixed Income - launched in February 2005 with support from ABN Amro, BNP Paribas, Goldman Sachs - is likely to be closed or sold in favour of Thomson's more successful TradeWeb platform.

Other Reuters products under scrutiny are Reuters Estimates, which collects forecast data from over 600 brokers, and Reuters Fundamentals, which assembles financial statements, press releases and public filings from 50,000 companies. Once again, Thomson has stronger products in these areas, including I/B/E/S, which collects estimates and historic data on companies.

Other speculative reports have focussed on the overlap between Thomson One and Reuters Trader in the provision of international market data.

Divisions earmarked for disposal could be put up for sale or simply closed, with staff reallocated to other parts of the company. Decisions on disposals are expected after the summer.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Reuters to acquire Feri Fund Market Information

Reuters to acquire Feri Fund Market Information

28 June 2007  |  7351 views  |  0 comments
Bloomberg to expand global news reporting team

Bloomberg to expand global news reporting team

21 June 2007  |  8805 views  |  0 comments
Reuters releases risk technology package for hedge funds

Reuters releases risk technology package for hedge funds

18 June 2007  |  5419 views  |  0 comments
Thomson outlines £8.8bn Reuters bid

Thomson outlines £8.8bn Reuters bid

08 May 2007  |  5136 views  |  0 comments
Reuters reports takeover approach; shares surge

Reuters reports takeover approach; shares surge

04 May 2007  |  5429 views  |  0 comments
Reuters introduces machine-readable sentiment scan; acquires ClearForest

Reuters introduces machine-readable sentiment scan; acquires ClearForest

30 April 2007  |  10459 views  |  0 comments
Reuters results hit by dollar slide; reports Barclays Wealth deal

Reuters results hit by dollar slide; reports Barclays Wealth deal

25 April 2007  |  5183 views  |  0 comments
Reuters expands RDF-Direct exchange data service

Reuters expands RDF-Direct exchange data service

19 April 2007  |  6838 views  |  0 comments
Thomson to launch global news service

Thomson to launch global news service

28 March 2007  |  6620 views  |  0 comments
Reuters and CME's FXMarketSpace venture goes live

Reuters and CME's FXMarketSpace venture goes live

26 March 2007  |  6567 views  |  0 comments
Reuters reports favourable outlook for 2007

Reuters reports favourable outlook for 2007

01 March 2007  |  4159 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10313 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9686 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9559 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8515 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
7991 views comments | 1 tweets | 2 linkedin

Featured job


Brussels or Frankfurt

Find your next job