Reuters agrees to sell Instinet to Nasdaq for 1.0 billion dollars

LONDON - The British news and financial information giant Reuters on Friday announced it has agreed the sale of its Instinet electronic platform to US electronic stock market Nasdaq for 1.0 billion dollars (0.77 billion euros).
"Reuters, the global information group, today confirmed that it expects to receive net cash proceeds of approximately 1.0 billion dollars from its 62-percent holding in Instinet Group, after tax and transaction fees," a statement said.
"This follows Instinet Group's announcement today that it has entered into a definitive agreement to be acquired by the Nasdaq stock market."

04/22/2005 17:38 GMT