We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 21 Oct 2007 01:33 PM

Font Size

- Aa +

Qatar, Dubai look to end London bourse battle

Gov'ts in talks to swap their shares in the LSE and Nordic exchange OMX, report says.

The Qatar Investment Authority (QIA) is talking to the Dubai government to end their bid battle over the London Stock Exchange (LSE) by exchanging their shares in the LSE and Nordic exchange group OMX.

The Qataris intend to exchange their 10% stake in OMX for a 14% stake in the LSE owned by state-owned Borse Dubai, UK weekly the Sunday Times said in an unsourced report.

The move comes as Borse Dubai, along with its bid partner Nasdaq Stock Market, sweetened their offer for OMX to $4.9 billion last month and seeks to boost their stake in the Scandinavian exchange after the Qatari investor started buying OMX shares.

Qatar Investment, which also bought a 20% stake in the LSE in September, said then its purchases in both exchanges were strategic and it did not plan to make an offer for the London bourse.

Qatar and Borse Dubai were not immediately reachable for comment.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.