Financial information provider Reuters was in demand yesterday as dealers speculated it could be the latest FTSE 100 stock to receive a takeover approach. The shares rose 6¾ to 368½p on talk that internet search engine Google was considering a bid. A hefty 38m Reuters shares were traded.
Well they will certainly get in front of a load of trading screens (although who has time to do searching as a trader?) - but this would be a very different ball game from current business focus.
Bloombergs I think (could be wrong) is key competitor - and are streets ahead interms of revenue and market share. Last I heard the issue with Reuters recently has been it's lack of drive to increase market share in this very niche market - not sure why Google would want to do this?