Instinet Faces Rumors of Buybacks And Mergers
TRANSACTION SYSTEMS
LONDON--Rumors are flying around the market about Instinet’s next move, thanks to its Q1 profit warning (TTW, April 1) and the related battering of parent Reuters’ share price.
One rumor says Reuters is considering taking back control of Instinet, 17 percent of which is publicly held after its flotation last year (TTW, Feb. 19, 2001).
That possibility pushed up Instinet’s share price, says Andrew Gordon-Brown, media analyst at JP Morgan Chase, because recent similar buybacks offered shareholders
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