Free Site Registration

CNBC Sells Stake in Archipelago

Traders Magazine, September 2003

Gregory Bresiger

CNBC, the financial cable news organization, has sold its 4.85 percent stake in Archipelago. The stake was valued by CNBC sources at between $10 million and $12 million. It was sold to Archipelago shareholders, who had the first right to buy it. Another suitor, the Toronto Stock Exchange had been interested in buying the stake, sources said. A CNBC spokesman declined comment. However, Archipelago officials said the sale worked out for them.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?