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Japan's Nikkei to buy FT group for 1.3 bln USD

Xinhua, July 23, 2015 Adjust font size:

Japan's Nikkei Inc. said late Thursday that it has reached an agreement with Britain's Pearson to purchase its Financial Times Group at about 160 billion yen ( about 1.29 billion U.S. dollars).

Established in 1888, the Financial Times is one of the world's most prestigious news organization on financial news. Both companies have made an announcement on the purchase.

Nikkei's Chairman Tsuneo Kita said that he is "extremely proud of teaming up with the Financial Times" and Nikkei shares with the Financial Times on their journalistic values.

Nikkei Inc. is one of the largest business media group in Asia. It acts as an operating holding company with its flagship newspaper Nikkei as a core, according to Pearson's announcement. Endi