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| Qatar 'eyes Nasdaq's LSE stake' | Qatar 'eyes Nasdaq's LSE stake' |
| (about 12 hours later) | |
| Qatar could snap up Nasdaq's stake in the London Stock Exchange (LSE) for as much as £1bn ($2bn), a report claims. | Qatar could snap up Nasdaq's stake in the London Stock Exchange (LSE) for as much as £1bn ($2bn), a report claims. |
| The Qatari Investment Authority approached the US exchange with the offer last week, the Sunday Times said. | The Qatari Investment Authority approached the US exchange with the offer last week, the Sunday Times said. |
| Nasdaq put its 31% stake in the LSE up for sale in August, six months after it tried and failed to take over the firm. | Nasdaq put its 31% stake in the LSE up for sale in August, six months after it tried and failed to take over the firm. |
| By selling the £797m stake the US group hopes to prevent Dubai-based Borse Dubai from muscling in on its planned £1.85bn buy of Nordic exchange OMX. | By selling the £797m stake the US group hopes to prevent Dubai-based Borse Dubai from muscling in on its planned £1.85bn buy of Nordic exchange OMX. |
| Nasdaq and Borse Dubai are currently embroiled in a takeover for Stockholm-based OMX, which gives investors access to the biggest firms in Scandinavia and the Baltic states. | Nasdaq and Borse Dubai are currently embroiled in a takeover for Stockholm-based OMX, which gives investors access to the biggest firms in Scandinavia and the Baltic states. |
| Consolidation | Consolidation |
| Last month, the Dubai group trumped Nasdaq's agreed offer for the exchange by tabling a £2.02bn ($4bn) offer for the group. | |
| In an effort to fund its fight with Dubai over OMX, Nasdaq has put its LSE shares up for sale. | In an effort to fund its fight with Dubai over OMX, Nasdaq has put its LSE shares up for sale. |
| According to the Sunday Times report, the Qatari group has indicated it is willing to pay £15 a share for Nasdaq's stake in the UK exchange. | According to the Sunday Times report, the Qatari group has indicated it is willing to pay £15 a share for Nasdaq's stake in the UK exchange. |
| However, the Qatari Investment Authority may not be the only group prepared to snap up the holding. | However, the Qatari Investment Authority may not be the only group prepared to snap up the holding. |
| Temasek, the investment arm of Singapore's government and Deutsche Borse are both said to be interested. | Temasek, the investment arm of Singapore's government and Deutsche Borse are both said to be interested. |
| Rumours surrounding the deals come at a time of widespread consolidation in the sector, with exchanges trying to make acquisitions in an attempt to cut costs and become more efficient. | Rumours surrounding the deals come at a time of widespread consolidation in the sector, with exchanges trying to make acquisitions in an attempt to cut costs and become more efficient. |
| In June 2006, the New York Stock Exchange (NYSE) bought pan-European Euronext exchange for $10bn, creating the first transatlantic stock market. | In June 2006, the New York Stock Exchange (NYSE) bought pan-European Euronext exchange for $10bn, creating the first transatlantic stock market. |