Bridge seeks one-week extension on Telerate sale - Reuters

Bridge seeks one-week extension on Telerate sale - Reuters

Bridge Information Systems, the financial news and data provider, has filed papers with the US Bankruptcy Court to extend the deadline to sell its Telerate business by one week, a Bridge spokesman told Reuters.

Bridge had originally slated Wednesday as the deadline for bids for its outstanding assets, including Telerate, BridgeNews and Australian news and data service BridgeDFS.

"But the size of Telerate, the number of interested parties and the complexity of the transaction required us to seek an extra week," spokesman Doug Morris told Reuters.

Bridge is believed to have received up to 35 indications of interest in its unsold assets. The new deadline is June 27.

Reuters won the auction for the data and trading units of Bridge in April with a cash bid of $275 million. Earlier this month, the US Justice Department requested more information regarding its review of the transaction.

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