Reuters Acquires Marketnet Group After Lengthy Talks
ORGANIZATION & MANAGEMENT
NEW YORK--Losing little time after its much-anticipated acquisition of the Marketnet Group--minus Rich Inc.--Reuters is moving quickly to integrate Marketnet's trading room specialists into the Financial Enterprise Systems (FES) group of Reuters America (RAM).
No figure was given for the price of the acquisition, but Reuters officials say the net assets of the New York-based Marketnet, as of December 31, 1998, were tallied at $95,000. Since its creation, Marketnet has been serving users with
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