Dubai Moving To Acquire 19.9 % of NY Nasdaq Stock Exchange & 28% of London Stock Exchange
London Stock Exchange Faces Fresh Bidding WarNearly 50 per cent of the London Stock Exchange is now in the hands of two rival Gulf states battling to be their region’s leader in the global consolidation of exchanges.Qatar Investment Authority and Borse Dubai now own 48 per cent of the LSE following a complex series of deals in which ownership of Europe’s exchanges is being realigned.
Borse Dubai secured 28 per cent of the LSE as part of a wider deal with the US-based Nasdaq designed to settle their long-running battle for control of the Nordic exchanges and technology operator OMX. The Dubai group bought most of Nasdaq’s 31 per cent stake in the LSE for £14.40 a share in cash. In return, it will take a 19.9 per cent stake in the combined Nasdaq/OMX group and receive cash.
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