ITG Spin Off Could Help Posit Raise Capital And Fund Development
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NEW YORK--When Jefferies Group announced it would spin off its 82.3 per cent stake in Investment Technology Group, the decision was driven by the Los Angeles' broker's concern about losing its holding's tax-exempt status if the level slipped below 80 per cent.
But for ITG, the owner of the Posit stock-crossing network, the spin off also holds out the possibility of readier access to capital and the funding it needs to compete with larger and better-capitalized rivals, such as Reuters' Instinet
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