Bloomberg chairman Grauer leaves Blackstone board after Reuters deal
The chairman of Bloomberg, Peter Grauer, has stepped down from Blackstone’s board after the personal fairness massive previous this week agreed to take regulate of Thomas Reuters’s information unit.
Mr Grauer knowledgeable Blackstone of his choice to surrender his seat at the board on Tuesday, that means the company’s board dimension has been lowered to 10 seats.
In a submitting, Blackstone mentioned that, whilst there was once “no legal requirement that Mr Grauer resign, he felt this was the appropriate step given the appearance and potential of a conflict”.
Blackstone mentioned Reuters’s Financial & Risk department was once a “direct competitor” to Bloomberg.
Blackstone previous this week started its attack on Bloomberg’s place because the dominant participant in monetary information, agreeing to take a 55computer stake in Reuters’s information unit for $17bn, and tabling plans to make the department separate beneath its route.
Blackstone’s revel in in monetary generation, having purchased device specialist Ipreo Holdings in 2014, may just end up a boon to Reuters, which has persistently lagged at the back of rival Bloomberg within the monetary information trade.