Abu Dhabi exchange eyes 20pc LSE stake

first_imgSunday 19 December 2010 11:22 pm whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Abu Dhabi exchange eyes 20pc LSE stake ABU Dhabi is in talks to buy a 20 per cent stake in the London Stock Exchange (LSE) held by indebted neighbour Dubai.The LSE stake sale would be part of an Abu Dhabi buyout of exchange operator Borse Dubai and would follow the latter’s sale of about half of its shares in Nasdaq OMX last week.Borse Dubai owns controlling stakes in local exchanges Dubai Financial Market and Nasdaq Dubai, plus 20 per cent of the LSE and a remaining 17 per cent stake in Nasdaq OMX.In March, Borse Dubai chairman Essa Kazim said talks had been held between the Dubai and Abu Dhabi governments over a merger of the DFM and Abu Dhabi Securities Exchange.Turnover on markets in the United Arab Emirates has plunged since the financial crisis and is poised to slump to a six-year low in 2010, prompting calls for the local bourses to merge.Abu Dhabi is seen as the driver of a potential merger, with Dubai’s debts estimated at $115bn (£74bn), mainly from state-linked firms.Borse Dubai paid about $4bn for the stake in Nasdaq OMX and 20 per cent of the LSE, as part of a complicated 2007 deal that saw Nasdaq merge with Sweden’s OMX group.The deal was completed before the 2008 credit crunch struck and the value of Borse Dubai’s holdings have since slumped. It paid £14.14 a share for its LSE stake, while these shares ended Friday at £8.23.Last Thursday, Nasdaq OMX bought 22.8m of its shares from Borse Dubai for $497m, pricing the deal at $21.82 per share.Borse Dubai also agreed to sell a further 8m Nasdaq shares to Investor AB, the holding company for Sweden’s Wallenberg family for an undisclosed fee. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼center_img whatsapp KCS-content Share Tags: NULLlast_img read more