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Reuters said it will buy 6.9% of Instinet.

October 29, 1985

London-based Reuters, which delivers news and financial information to subscribers worldwide, said it also has the option of increasing its stake to 16.4% over the next three years. Instinet operates a network that allows professional investors to trade securities over computers. Reuters will pay $10.9 million for the stock and warrants for future shares, $4.5 million of which it will pay in cash now, the rest coming later in cash or Reuter shares.

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