By Mathieu Robbins
Share swap could come within days after Qatar's withdrawal for approval to bid for Nordic bourse, sources say.
Talks between the Qatar Holding and Borse Dubai about exchanging shares in the London Stock Exchange (LSE) and Nordic rival OMX have progressed and a deal is close, said people familiar with the matter.
The sides have been exploring a deal, which the sources said could now come within days or weeks, whereby the Qataris would exchange their 10% stake in OMX for at least part of the stake held by Borse Dubai in the LSE.
Borse Dubai and the Qatar Investment Authority (QIA) declined to comment.
Qatar Holding had earlier on Tuesday withdrawn its request for approval of a potential bid for OMX, opening the door to completion of a $5 billion takeover of the Nordic bourse operator by Borse Dubai and Nasdaq.
The Qatari investment vehicle, a subsidiary of the QIA, said in a statement on Tuesday it was withdrawing its application to Sweden's financial watchdog to be considered a suitable owner of OMX as it was no longer needed. (Reuters)