Global information and news group, Reuters, has confirmed it is in exclusive talks with telecoms giant, BT about the sale of its financial extranet, Radianz, which was set up as part of a joint venture with communications group, Equant.
As part of the deal, Reuters has agreed to purchase Equant’s 49% stake in Radianz for $110 million and the deal, which currently has an undisclosed price-tag, is schedule to be complete by the first quarter of 2005.
Tom Glocer, chief executive of Reuters said: “As part of BT, Radianz would continue to be our preferred network communications supplier. By combining Radianz with BT, Reuters and our customers would benefit from a greater range of high quality networking options, providing increased flexibility and enabling cost efficiencies.”
Ealier this week, Reuters, reported a better than expected decline in revenues, as they fell 4.4% to £528 million, compared to the group’s forecast of a 5.0% fall (see Reuters Revenues Down 4.4% And Expects A Further Drop In Q4).
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