Bidders Mull Value of Instinet IT Suite
FRONT PAGE: EXCHANGE TECHNOLOGIES
NEW YORK—Instinet’s cache of technologies may not play a major role in the bidding war that it finds itself in the middle of, observers say.
With the hiring of Morgan Stanley and Lehman Brothers last week, Reuters is getting serious about selling off its 62 percent holdings in the Instinet Group. A Morgan Stanley spokes person confirms that the firm is advising Reuters along with Lehman Brothers, though Reuters declines to comment. Lehman Brothers also declines to comment. The market value of
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