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Metal Bulletin buys online news provider FastMarkets

Reuters - UK Focus

(Correct currency to pounds from dollars in first paragraph)

LONDON, Aug 16 (Reuters) - The parent company of Metal Bulletin, which specialises in providing benchmark metals prices, has bought online news provider FastMarkets for 13 million pounds ($16.9 million).

Euromoney Institutional Investor Plc, the owner of Metal Bulletin, said in a statement it bought FastMarkets Ltd to extend its capabilities into real-time data delivery.

Metal Bulletin specialises in reporting prices of metals that are often used as benchmarks by buyers and sellers of physical material.

FastMarkets, established in 1999, provides real-time market information on commodity exchanges such as the London Metal Exchange and the CME.

"This acquisition complements Metal Bulletin and extends Euromoney's global coverage of metals markets," said Metal Bulletin's Managing Director Raju Daswani. ($1 = 0.7712 pounds) (Reporting by Eric Onstad; Editing by Adrian Croft)