LONDON (AFP) - Reuters, the British news and financial information giant, played down speculation it is planning to sell its controlling interest in Instinet, a US-listed market data business.
The Financial Times reported Friday that Reuters was reconsidering its long-term ownership of its stake in Instinet.
Executive director Devin Wenig was quoted as saying that Instinet was not "an important strategic piece for the future."
But a spokesman for Reuters said: "Nothing has changed in the position (chief executive) Tom Glocer set out in September.
"In the long term Reuters doesn't need Instinet to be successful, but in the short term we're happy with it ... and want to take the asset a bit further."
Back in September, Glocer said: "In the short to medium term we are doing a pretty good job at Instinet and, on balance, there is more upside than downside, and we prefer to work that asset a little harder."
11/19/2004 - 12:53 GMT - AFP