Reuters Shares Boosted By Bridge Information Systems Purchase

Reuters announced yesterday that its bid to acquire some of the assets of Bridge Information Systems had been declared “highest and best” by Bridge. The company’s business operations were put up for auction following reorganisation proceedings.

The Reuters bid was primarily for Bridge’s content and trading applications for US institutional securities businesses. It is thought that the purchase will complement Reuters international position and allow further development of services.

Yesterday, news of the bid acceptance pushed Reuters shares up 25p to end the day at £10.25 (see Sharewatch). By 11:00am today shares had risen a further 1p to £10.26.

Reuters: 020 7250 1122 www.reuters.co.uk

UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch