DUBAI, (Reuters) – Borse Dubai, the largest shareholder in Nasdaq OMX, backed the exchange’s unsolicited $11.3 billion bid for NYSE Euronext, its chairman said on Friday.

Essa Kazim, when asked whether the Dubai-based holding company that has an approximately 29 percent stake in Nasdaq OMX was in favour of the bid, told Reuters: “Yes we are supportive.”

He declined any further comment on the offer.

Nasdaq OMX and IntercontinentalExchange have launched a rival bid to buy NYSE Euronext for about $11.3 billion in cash and shares.