Reuters, the news and information group, is continuing its clear out of non-core businesses with the sale of its 34% stake in GL Trade, the financial IT group.

Reuters is disposing of its entire holding of 3,535,000 shares in the French company through a three-pronged transaction worth around €105m ($126.3m). Around a third of the stake is to be bought by GL's other majority shareholder Euronext, the pan-European exchange.