February 20, 2008	Wednesday	Safar 12, 1429

WASHINGTON, Feb 19: Thomson Corporation said on Tuesday it expected to close its $17bn takeover of British media group Reuters in April after regulatory approval in the US, Canada and European Union.

The US Justice Department said it would require Thomson to sell financial data and related assets in three markets for financial data in order to proceed with the Canadian company’s proposed $17bn acquisition of Reuters Group Plc.

The conditional approval, taking into account antitrust concerns, paves the way for the creation of the world’s biggest financial information group.

Tom Glocer, currently chief executive of Reuters and CEO designate of Thomson Reuters, said after the approvals: “This is an important step toward completing the transaction.”

Thomson and Reuters said separately they expect the transaction to close in the week of April 13.—AFP