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Qatari, Dubai Considers LSE, OMX Share Swap: Report - ASHARQ AL-AWSAT English Archive
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LONDON (Reuters) – The Qatari Investment Authority is talking to the Dubai government to end their bid battle over the London Stock Exchange by exchanging their shares in the LSE and Nordic exchange group OMX, a Sunday paper said.

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

The move comes as Borse Dubai, along with its bid partner Nasdaq Stock Market Inc, 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 percent 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.

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Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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