Bloomberg denies $10bn sale to Thomson
LONDON - Bloomberg, the financial media business, has denied it is for sale following reports that Canadian media giant Thomson was preparing a $10bn (£6.9bn) bid following Michael Bloomberg's surprise victory as New York mayor.
It was reported yesterday that Bloomberg, although not having reached a decision, was giving serious consideration to the idea of selling the company, which is centred around providing screen-based financial information to Wall Street.
The £6.9bn bid by Thompson, which owns a rival screen-based business to Bloomberg, is thought to be only half of what Bloomberg is understood to want for the business, which he owns 72% of.
There could be other bidders. Merrill Lynch, which owns 20% of Bloomberg, has been linked with a possible bid, as has Pearson, which owns the Financial Times.
Talking to the New York Post, a spokesman for Bloomberg said, "We've had no talks with Thomson. We're not for sale."
Since beginning his bid to become mayor of New York city, day-to-to-day running of the company has passed to Lex Fenwick, chief operating officer, who is expected to now succeed Bloomberg as CEO.
Speculation has been rife that a sale was in the offing since Bloomberg's surprise candidacy was declared. As mayor, he is prohibited from running a business that does business with the city.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.
Latest jobs Jobs web feed
- Client Development Manager Stopgap £40000 - £45000 per annum + bonus, London
- Client Development Director - Loyalty - London Stopgap £55000 per annum + bonus, London
- Head of Campaign Management Stopgap £65000 - £70000 per annum, London
- Senior Data Analyst Direct Recruitment £40,000 - £45,000, London
- Lead Data Planning Consultant Direct Recruitment £85,000 - £100,000, London
- Senior Data Planner Direct Recruitment £55,000, East London