Dubai/Stockholm
Dubai's state-run BDL stock exchange is taking stake in Nasdaq, and
the two will take over a group operating stock markets in Nordic and
Baltic nations, linking markets in the US, Europe and the Gulf.
The board of Nordic and Baltic stock exchanges operator, the
Stockholm-based OMX group, Wednesday recommended "unanimously" a
takeover bid from BDL (Borse Dubai Ltd) and US' second largest
bourse Nasdaq, the DPA news agency reported.
"Linking trading centres in the US, Europe and the Middle East will
provide members, issuers and all other market participants with
considerable opportunity in the changing global capital markets,"
OMX board chairman Urban Backstrom said in a statement.
BDL will get Nasdaq's stake in the London Stock Exchange Group and a
19.9 percent stake in the US exchange, although its voting stake
will be limited to five percent, WAM news agency reported Wednesday.
The move will also allow Nasdaq to proceed with its plan to merge
with OMX group. After that deal closes, Nasdaq will be known as
Nasdaq OMX Group Inc.
Earlier in September 2007, rival bids from Nasdaq and BDL were
merged when they announced a deal over the OMX group. The deal had
stipulated that BDL would become a 19.99-percent shareholder in
Nasdaq with a maximum 5 percent of voting rights.
The OMX statement said the offer of $40.9 per share represented a
52-percent premium on the closing price on May 23, 2007 when Nasdaq
made its initial offer.
OMX operates the exchanges of Stockholm, Copenhagen, Helsinki and
the three Baltic capitals Tallinn (Estonia), Riga (Latvia) and
Vilnius (Lithuania).
Nasdaq will make an investment in Dubai International Financial
Exchange and enter into certain technology and trademark licences
with Borse Dubai and its subsidiary, Dubai International Financial
Exchange Ltd.
Boloji.com is owned and managed by Boloji Media Inc Privacy Policy |
Disclaimer
No part of this Internet site may
be reproduced without prior written permission of the copyright holder.
