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BT to buy Reuters unit in days?

Both tight-lipped over Radianz sale

Tags: radianz, reuters, bt

By Jo Best

Published: 7 March 2005 15:20 GMT

BT is thought to be close to completing a deal with Reuters to buy its Radianz business unit.

BT announced it was to buy the extranet company following Reuters' move to buy out partner Equant's 49 per cent stake and take full control of Radianz late last year.

The BT buy is now within days of going ahead, according to an unnamed BT source quoted in The Mail on Sunday, which puts the final value of the deal at £175m.

A BT spokesman said: "We always said we'd complete the deal by the end of the first quarter and we're definitely on track to complete that."

Reuters declined to comment, although the news organisation's latest set of preliminary financial results stated the company is in "exclusive discussions" with BT over the sales of Radianz.

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