OLIVETTI DEAL WITH TELERATE

Moving Carlo de Benedetti’s aim of becoming a major player in the financial information services market, his Olivetti SpA unit has invited Telerate Inc, majority owned by Dow Jones & Co, to take a 46% stake in its Radiocor subsidiary, which is a leading provider of financial information in Italy. The Telerate holding will be achieved through a capital increase at Radiocor and involves Telerate putting up $5.4m. Concurrently, Radiocor will buy out the Telerate Italia SpA subsidiary.

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