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17 Apr 2008 10:37
Thomson Reuters launched on the London stock market on Thursday, creating the world’s biggest provider of financial data to trading floors, overtaking United States rival Bloomberg.
Thomson Reuters was formed after Canada’s Thomson Corporation bought British-based media and information group Reuters for £8,7-billion in a deal that was completed on Thursday.
The share price of Thomson Reuters made its London market debut at 1 700 pence at the start of trading.
To mark the occasion, Thomson Reuters unveiled its new logo—consisting of concentric circles of orange dots—with the tagline “knowledge to act”.
The newly formed business, headed by Reuters’s former chief executive Tom Glocer, will launch on the New York and Toronto stock markets later on Thursday.
“The Thomson Corporation today [Thursday] announced that it has completed its acquisition of Reuters group, forming Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals in the financial, legal, tax and accounting, scientific, healthcare and media markets,” Thomson Reuters said in a statement.
Thomson Reuters, whose headquarters are in New York, has about 50 000 staff in 93 countries across the world.
“This is a very exciting day for our shareholders, customers and employees,” said new Thomson Reuters chief executive Glocer in the statement.
“Thomson Reuters will benefit from the value created by more diversified revenue streams, a larger capital base and synergies resulting from the acquisition,” he said.
“Our leadership position and global footprint will give us opportunities to grow faster than either Thomson or Reuters could have on its own.”—AFP
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