EU approves BT Group's acquisition of Radianz

04/25/05 - newratings.com

LONDON, April 25 (newratings.com) – The European Union Monday approved the acquisition of financial services extranet provider Radianz by Britain's BT Group Plc (BT-GBX).

The EU head office concluded that the deal would not have a significant impact on the competition in the region, since activities of the two concerned companies do not overlap. In March, BT had announced the acquisition of Radianz from Reuters for US$175 million plus any cash remaining on the balance sheet at the date of completion. Following the acquisition, Radianz will continue to provide extranet services for Reuters and the global financial services market. Extranet is a secure private network to share business information using internet technology in conjunction with the public telecommunications system.