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EU extends antitrust probe into Thomson's bid for Reuters
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10:25, November 01, 2007

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The European Commission extended its antitrust investigation into Canadian publisher Thomson's takeover bid for Reuters until March 10.

The European Union's antitrust watchdog made the decision at the request of the two companies, but it gave no reason for the extension.

The commission had previously planned to decide whether to approve or block the deal before Feb. 25 after it opened an in-depth probe on Oct. 8 over serious concerns about competition in the supply of financial information.

Thomson and London-based Reuters are two major providers of financial data to banks, investment funds and other financial services firms.

The proposed merger, valued at about 8.7 billion pounds (18 billion U.S. dollars), will leave the combined entity to face sole competition from Bloomberg.


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