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Reuters Unit Probed in U.S.

January 29, 1998

LONDON (AP) _ A U.S. subsidiary of Reuters Holdings PLC, the news and financial information provider, is being investigated on allegations it stole information from rival Bloomberg LP.

Reuters said Thursday in a statement that Reuters Analytics Inc., based in Stamford, Conn., was the subject of a New York grand jury investigation into charges that it improperly gained access and used information from Bloomberg’s computers.

Reuters’ U.S.-listed shares were down $3.43 3/4, or 5.6 percent, at $58.06 1/4 in late afternoon trading on the Nasdaq Stock Market. The company’s shares fell 4.5 percent on the London Stock Exchange.

Reuters Analytics distributes specialized information about government bonds and other fixed-income investments.

Reuters, which just recently learned about the probe, said it is cooperating with the investigation and had hired lawyers to conduct a ``thorough internal inquiry.″

Reuters would not say whether any action had been taken against any of its employees. The company said it was not in a position to comment further.

A Bloomberg spokeswoman in New York declined to comment.

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