Dow Jones puts index business on sale
- Source: Xinhua
- [10:58 August 22 2009]
- Comments
The file photo taken on May 1, 2007 shows the DOWJONES logo on Times Square in New York, the United States. Dow Jones has been talking to potential buyers about the sale of its stock-market indexing business, which includes the Dow Jones Industrial Average, the Wall Street Journal reported in its online edition on Friday.
Dow Jones has been talking to potential buyers about the sale of its stock-market indexing business, which includes the Dow Jones Industrial Average, the Wall Street Journal reported in its online edition on Friday.
The process is being run by Goldman Sachs, and could result in a sale, joint venture or some other type of arrangement, the report said, without giving specific reasons for the sale.
The indexes business creates and licenses indexes for use on mutual funds, exchanged-traded funds and other products.
The Dow Jones industrial average was first introduced in 1884 by Charles Dow and Edward Jones. It was set up to give investors a quick look at overall market activity.
In late 2007, News Corp purchased Dow Jones, which owns the Wall Street Journal, Barron and Market Watch, for 5.7 billion US dollars.
