Reuters Decides to Float Instinet; Third Quarter Revenues Up 16 Percent


LONDON--Reuters has decided to float Instinet, its electronic brokerage firm, and has begun the preparatory work for an initial public offering in the US of a minority stake.

Reuters chairman Peter Job said in a conference call that the flotation of Instinet will create great value for investors and bring more transparency to Reuters shareholders. Job added that Instinet as a separate public entity will have more freedom to make strategic acquisitions and will be able to motivate employees w

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