Icap, Reuters Pull Out of Blackbird
SPECIAL REPORT
LONDON--Interdealer broker Icap and Reuters last week sold their stakes in US electronic swaps platform Blackbird, ending an 18-month battle for control of the company between Icap and Blackbird; Icap had a 19 percent stake while Reuters had 11.8 percent. In addition, Blackbird has bought Icap’s holdings, which cost about $12 million early last year for undisclosed cash and intellectual property rights. Reuters sold its stake to a Japanese venture capital firm for under $1 million, officials say
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