Investment Technology Group (ITG) Message Board

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Technology Stocks : Investment Technology Group (ITG)

ITG 30.23

0.0%

Feb 28 4:00 PM EST

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To: Scott Smith who wrote (23)	1/11/1999 1:34:00 AM
From: Beltropolis Boy	of 70

Jefferies Group moves forward in spin-off January 7, 1999 12:22 PM LOS ANGELES, Jan 7 (Reuters) - Investment bank Jefferies Group Inc. said Thursday its spin-off of its majority owned subsidiary, Investment Technology Group Inc. (ITGI), is expected to finish by the end of the first quarter instead of the end of January, as previously planned. "The IRS raised some routine issues, nothing out of the ordinary," Steve McMenamin, a spokesperson at Jefferies told Reuters in a phone interview. Jefferies announced the spin-off on March 17, 1998, whereby Jefferies Group shareholders will own about 80.7 percent of Investment Technology when the transaction closes. Jefferies is an investment banking and brokerage firm and Technology Group is a provider of technology-based equity trading services. Jefferies shares were off 1/4 at 50-5/16 and Investment Technology shares were off 1/2 at 62-1/2 on Thursday.

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