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BRIEFLY

Reuters said it cannot pursue bidding for UPI.

June 07, 1985

The British-owned news agency said that it was stymied because United Press International had failed to supply it with the financial information that Reuters had requested during negotiations earlier this month. Reuters stopped short, however, of saying that it no longer had any interest. UPI, which is seeking protection from creditors in bankruptcy court, is looking for a purchaser to solve its financial crisis. President Ray Wechsler claims that the news agency is talking to eight major bidders. So far, however, only Reuters was named.

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