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Wed 7 Nov 2007 10:22 AM

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Ruling on Dubai's OMX bid due next week

Sweden's financial regulator will decide Nov. 12 on suitability of Borse Dubai as owner.

Ruling on Dubai's OMX bid due next week
(Getty Images)

Sweden's Financial Services Authority (FSA) will decide on November 12 on the suitability of Borse Dubai as a potential owner of Nordic and Baltic exchange group OMX, a spokeswoman said on Tuesday.

Borse Dubai sweetened its bid for OMX in late September, offering $4.9 billion for the firm. In a complex deal, Borse Dubai will then sell on OMX to Nasdaq for a stake in the combined firm.

"There is a board meeting on November 12 at 9am [0800 GMT]," FSA spokeswoman Helena Ostman said.

She said the FSA would probably announce its findings sometime after lunch.

Potential owners of OMX must seek approval from the regulator for taking a significant stake in the company, which owns and operates exchanges in the Nordic and Baltic regions.

The FSA has already approved Nasdaq.

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