Reuters, Merrill Lynch break off talks over contract

Reuters Group said it has broken off negotiations with Merrill Lynch on providing the brokerage with its next generation retail workstations.

Tom Glocer, Reuters Chief Executive, said: "We have been involved in detailed talks with Merrill Lynch for several months.

"We offered the solution the users preferred. However, we were not prepared to lower our price to buy business."

No financial details were reported.

In September, when Reuters confirmed the talks were ongoing, it described the deal as a significant one.