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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month July 1998
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REUTERS GROUP PLC
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(Translation of registrant's name into English)
85 FLEET STREET, LONDON EC4P 4AJ, ENGLAND
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(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file
annual reports Form under cover Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes No X
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THIS REPORT IS INCORPORATED BY REFERENCE IN THE PROSPECTUSES CONTAINED IN POST
EFFECTIVE AMENDMENT NO. 2 TO REGISTRATION STATEMENT NO. 33-16927 ON FORM S-8,
POST-EFFECTIVE AMENDMENT NO. 1 TO REGISTRATION STATEMENT NO. 33-69694 ON FORM
F-3, POST-EFFECTIVE AMENDMENT NO. 1 TO REGISTRATION STATEMENT NO. 33-90398 ON
FORM S-8 AND POST-EFFECTIVE AMENDMENT NO. 1 TO REGISTRATION STATEMENT NO.
333-7374 ON FORM F-3 FILED BY THE REGISTRANT UNDER THE SECURITIES ACT OF 1933.
FOR IMMEDIATE RELEASE
Contact: Robert Crooke Nancy Bobrowitz
Media Relations Investor Relations
Reuters America Inc. Reuters America Inc.
(212) 603-3587 (212) 603-3345
Suzanne Quigley
Corporate Communications
Bankers Trust
011-44-171-982-2013
REUTERS ENTERS INTO AGREEMENT WITH BT ALEX. BROWN FOR THE SALE OF ITS INVESTMENT
TRUST DATA BUSINESS
LONDON, June 30, 1998- Reuters said today it had signed a letter of intent with
BT Alex. Brown International, a division of Bankers Trust International PLC, to
acquire its investment trust data service business. The consideration will not
be material to either party.
The data service operation is a fully autonomous function that provides the
securities industries and media with benchmarking data on investment trusts. The
brokerage business for investment trusts will remain with BT Alex. Brown.
Reuters plans to develop and expand the data service to include coverage of
offshore closed end and international funds so that it becomes the only
independent global service for collective investment data. The business that
Reuters is acquiring is a benchmark for the industry and is the Financial Times'
daily source for accurate information and analysis on investment trusts.
In addition to his responsibilities at BT Alex. Brown, Hamish Buchan, the firm's
highly rated investment trust analyst, will be contracted to work for Reuters in
a consulting role to develop the service. In addition, the five employees who
work on the data service business will transfer to Reuters.
Hamish Buchan commented, "We see great opportunities for combining Reuters
technology and resources with our plans to expand the analysis of collective
investment data to a far wider audience in much more detail."
Reuters (NASDAQ: RTRSY) supplies 435,000 users located in 53,000 organizations
in global business and news media with the widest range of information and news
products including real-time financial data, transaction and risk management
systems, numerical, textual, historical and graphical databases, news, news
video and news pictures. Reuters designs and installs trading room systems. It
extensively uses Internet technology for wider distribution of information and
news. Reuters is the world's largest news and television agency with 2,036
journalists, photographers and cameramen in 174 bureaus serving 163 countries.
News is published in 25 languages. Reuters services are delivered to clients
over the world's most extensive international private satellite and cable
communications network. At the end of 1997, the Group employed 16,119 staff in
97 countries in 217 cities. Prices and data are provided for over 400,000
shares, bonds and financial instruments using over 2 million Reuters codes.
Financial information is obtained from 277 exchanges and over-the-counter
markets, and supplied by 4,800 clients who subscribe to Reuters. Approximately
1.5 to 2 million words of news are published daily. At peak time Reuters updates
2,000 prices or other data every second.
For more information about Reuters visit www.reuters.com.
BT Alex. Brown, the subsidiary through which Bankers Trust conducts its
investment banking activities, was formed on September 1, 1997 with the merger
of Bankers Trust and Alex. Brown Incorporated. On April 27, 1998, the
acquisition of the European cash equities business of NatWest Markets and the
Wood Mackenzie consulting business was completed and became part of BT Alex.
Brown International, the international arm of the investment bank. Bankers Trust
Corporation is the seventh largest bank holding company, with assets of $157
billion and offices in more than 55 countries. Its principal subsidiaries -
Bankers Trust Company, BT Alex. Brown Incorporated and Bankers Trust
International PLC - hold leadership positions in leveraged lending, high yield
securities, equity underwriting and distribution, strategic advisory and risk
management.
# # #
REUTERS AND THE DOTTED AND SPHERE LOGOS ARE THE HOUSE TRADEMARKS OF REUTERS
LIMITED.
FOR IMMEDIATE RELEASE
Contact: Robert Crooke Melissa Daly
Media Relations Media Relations
Reuters America Inc. Lipper Analytical Services, Inc.
212-603-3587 212-312-0329
robert.crooke@reuters.com mdaly@lasc.com
Nancy Bobrowitz
Investor Relations
Reuters America Inc.
212-603-3345
nancy.bobrowitz@reuters.com
REUTERS ACQUIRES THE FUND INFORMATION BUSINESS OF LIPPER ANALYTICAL SERVICES,
INC.
NEW YORK, July 23, 1998--Reuters has acquired the fund information business of
Lipper Analytical Services, Inc., a leading provider of US mutual fund and
global fund data. Reuters intends to develop and build a fund information
business as a separate global entity within the Group under the Lipper
Analytical Services brand.
The value of the net assets acquired and the costs of the acquisition are not
considered material to Reuters. The acquisition will be funded out of the
existing cash resources of Reuters.
Lipper Analytical Services, Inc., headquartered in Summit, NJ, is a premier
provider of fund information and analysis to investment company boards of
directors, senior executives and key media outlets. Lipper Analytical Services
analyzes approximately 39,000 funds with assets of about $7 trillion. Lipper's
fund data goes back to 1959 and the company employs some 300 staff in Summit,
Denver, New York, London and Hong Kong.
Managed funds have seen rapid growth over the past five years which has been
fueled by an unprecedented need to provide for future retirement needs and to
increase private savings. Global managed funds are becoming the driving force in
the savings and securities markets because of the critical role they play in
most individuals' financial security. The fund management industry reflects this
expansion and has a growing requirement for information on fund performance.
Reuters acquisition of Lipper supports their mutual goal of helping clients to
capitalize on these global trends.
Reuters will now combine the Lipper business with those of three recent European
acquisitions: HSW, Bopp and Citywatch. The company is currently pursuing other
fund initiatives in Asia. The Lipper business and brand will become the
cornerstone of Reuters fund market strategy.
Lipper's fund-related activities will be conducted in accordance with Reuters
established Trust Principles to underline its independence and objectivity and
to ensure its freedom from bias or factional control. Services to the media will
grow on a worldwide basis in a manner consistent both with the Reuter Trust
Principles and Lipper Analytical Services' history of impartiality and
independence.
Peter Job, Reuters Chief Executive, said: "We are delighted to welcome Lipper to
the Reuters Group. It will give us access to one of the leading suppliers of
fund information to the institutional market and put us at the forefront of the
industry. We shall apply Reuters technological innovation to bring to fund
clients new and comprehensive services and exploit the opportunities that are
open to us. I am also very pleased that Reuters will have the benefit of the
knowledge and expertise of Michael Lipper who is an influential commentator in
the international fund marketplace."
Michael Lipper said: "Lipper Analytical Services has grown with the fund
industry since its founding in 1973. With worldwide fund assets projected to
grow to nearly $30 trillion in the next 10 years, Lipper and Reuters will be
even better positioned to service their clients. This is the right time and the
right ally with which to accelerate our activities in a way that benefits our
clients and employees. Through the power of this acquisition, talented people
will be added to Lipper offices."
Michael Lipper will be Chairman and Simon Thomson will assume the role of Chief
Executive Officer of Lipper Analytical Services, Inc. based in Summit. Thomson
is currently Marketing Director, Reuters Europe, Middle East and Africa. Ruth
Lipper and Steve Lipper will remain as senior officers of the company.
Continuing as members of the senior management team will be Evelyn Carter, Diana
Mackay, Gary Kreissman, and Carl Meerveld.
Michael Lipper will retain ownership of Lipper Analytical Securities Corp.,
Lipper Advisory Services, and Lipper Consulting Services which are not included
in the assets purchased by Reuters.
Reuters Group PLC (NASDAQ: RTRSY) supplies 457,000 users located in 58,000
organizations in global business and news media with the widest range of
information and news products including real-time financial data, transaction
and risk management systems, numerical, textual, historical and graphical
databases, news, news video and news pictures. Reuters designs and installs
trading room systems. It extensively uses Internet technology for wider
distribution of information and news.
# # #
REUTERS AND THE DOTTED AND SPHERE LOGOS ARE THE HOUSE TRADEMARKS OF REUTERS
LIMITED.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
REUTERS GROUP PLC
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(Registrant)
Dated: July 23, 1998 BY: /s/J. B. Reid-Dodick
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John B. Reid-Dodick
Attorney-in-Fact