Additional Information


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.

Share this article

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.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed


The Wall blogs

Back to top ^