The Reuters Founders Share Foundation will give its backing to a proposed takeover by Canadian Data Provider Thomson later this week, reports say.

The trust is satisfied the £8.8bn ($17.5bn) deal will not jeopardize Reuters' journalistic independence, the Independent on Sunday said.

Backing from the trust, which has a "golden share" that could block any takeover, is vital to the deal.

A tie-up would create the world's biggest financial news and data firm.

According to the Sunday Times, the Reuters Founders Share Foundation is set to discuss the proposed takeover this week.

Should the offer from Thomson become official and be accepted, the new company would be called Thomson-Reuters and would be listed in both London and Toronto.

Reuters' investors would hold 24% of the enlarged firm with the Thomson family retaining its majority 53% stake in the business.

The companies would merge the Thomson Financial business and Reuters' financial and media operations under the Reuters name.

Following a merger, Reuters boss Tom Glocer would head the new firm, while Thomson's president and chief executive, Richard Harrington, would retire.