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’Problem at the LSE (now updated seven times)
In addition to Thursday’s LSE share price fall — triggered by concerns about the 20 per cent stake held by Borse Dubai — the exchange is also having some technical issues, which has left many traders flying blind.
A forced seller at the LSE?
Shares in the London stock exchange have taken a beating in early trading on Thursday.
See if you can figure out why.
From Bloomberg:
Traders obviously fear the Borse Dubai stake will be dumped in the market.
Borse Dubai eyes Qataris for LSE stake
Borse Dubai has signalled its willingness to sell its stake in the London Stock Exchange to Qatar, opening the door to a deal that would end a simmering rivalry between Dubai and Qatar over London’s bourse,
Qatar sells out of OMX, smoothing Nasdaq’s planned takeover
Qatar Investment Authority has sold its near-10 per cent stake in OMX to Börse Dubai, effectively sealing Dubai’s $4.9bn takeover of the Scandinavian exchange. Plans are in place for Dubai to swap ownership of OMX for Nasdaq’s 28 per cent stake in the London Stock Exchange and take a 20 percent stake in a new Nasdaq holding company.
Deutsche Börse up on bid talk, Qatar out of OMX
Deutsche Börse shares jumped 4.8% to €133.19 on bid speculation as European equity markets rebounded on Wednesday, breaking their two-day fall. In the frame to make a €180-per-share bid for the German stock market operator were derivatives exchange CME of Chicago or a Middle-East sovereign wealth fund.
Sheikhs take stakes update: Qatar says OMX bid ‘serious’
Qatar has given its clearest indication yet that it hopes to dash Borse Dubai’ OMX takeover bid. On Wednesday, the Prime Minister of Qatar, Sheikh Hamad bin Jassim bin Jabr al-Thani said on US TV that a Qatari takeover bid for OMX was being thought about “seriously”.
The never-ending OMX story: QIA looks to raise stake
Surprise, surprise. Another bidding battle for OMX looked likely on Tuesday after the Qatar Investment Authority applied for permission to lift its 9.98 per cent stake in the Nordic market operator, reports
OMX suitors closer to winning control
Nasdaq and Borse Dubai moved closer on Wednesday to taking over OMX after key shareholders committed themselves to a raised offer for the Nordic exchanges operator. Nasdaq and Borse Dubai said they had received undertakings from enough shareholders to give them effective control of nearly half the group.
Sheikhs take stakes II: Exchange wars!
The Scando-Arab exchange dream edges ever closer to realisation.
Borse Dubai announced Wednesday it had upped its stake in OMX, the Scandinavian exchange, to 47.6 per cent. Or at least, was on the cusp of doing so through a series of option agreements and irrevocable offers.
Dubai, Qatar, move again on OMX
Two rival Gulf firms are holding discussions with major shareholders of Nordic stock-exchange operator OMX in an attempt to secure a larger holding, reports the Wall Street Journal, citing people familiar with the matter.
After ‘Exchange Twister’ the new game is ‘Nationalist Frolics’
As Lex said, it’s just one big game of “exchange Twister” – (remember the game in which players tie themselves in knots moving their feet and hands around multi-coloured circles?). But even as we write,
LSE faces fresh bidding war
Two rival Gulf states vying for regional leadership in the global consolidation of exchanges have secured nearly 50% of the London Stock Exchange. Qatar Investment Authority and Borse Dubai acquired 48% of the LSE through a complex series of deals which are realigning ownership of Europe’s exchanges.
What it means: Lex on Nasdaq, Dubai and the LSE
The “giant game of Twister goes on”, says Lex. Borse Dubai has allowed Nasdaq a free run at OMX. The structure is “mind-boggling”, but Borse Dubai will, in effect, buy OMX then immediately sell it to Nasdaq,
The Emirate fights back – Qatar buy their own 20 per cent stake in LSE
Given that Qatar and the LSE have been courting for the past year, Nasdaq’s decision to sell its LSE stake to Borse Dubai was always going to get messy.
Earlier this week, all the signs were that the Qataris’ £2.8bn,
Nasdaq’s scando-arab ménage à trois sees Dubai take LSE stake
Finally. Closure. Dubai has overtaken Qatar and bought Nasdaq’s stake in the LSE.
It’s been a long and winding road. The Italians were interested – but dropped out last Thursday, Qatar was set to win on Monday,
OMX shares slump on deal expectation
Trading in shares of the Nordic stock exchange OMX, which is being fought over by Nasdaq and Borse Dubai, were suspended Wednesday afternoon amid speculation that the rival bidders would announce a deal on Thursday.
OMX soars on speculation over LSE stake
Shares in OMX, the Nordic exchange, soared on Tuesday amid speculation that Nasdaq is close to finalising a deal to sell its 31 per cent stake in the London Stock Exchange to either Qatar Investment Authority or Borse Dubai.
Weekend catch-up: OMX, Godiva, HSBC
In case you missed it:
Borse Dubai presses on with OMX bid
Borse Dubai submitted its offer documents for its $4bn all cash bid for Nordic exchange OMX to the Swedish regulator Friday as it sought to catch up with rival bidder Nasdaq – which has offered $3.8bn in cash and shares.
Swedish watchdog to rule on OMX
Sweden’s top white-collar crimes bureau will decide on Monday whether to launch a criminal investigation into allegations of insider dealing in Borse Dubai’s acquisition of nearly 29 per cent of OMX,
Nasdaq seeks probe of Borse Dubai’s OMX bid
Nasdaq has asked Sweden’s Securities Council to investigate Borse Dubai’s takeover offer for OMX, just four days after financial regulators ruled its takeover tactics had broken Swedish law. It is also understood that Sweden’s National Economic Crimes Bureau has made preliminary inquiries into Borse Dubai’s bid and may be considering its own investigation into the affair.
UK holiday catch-up: Nasdaq, OMX, Temasek, SachsenLB
In case you missed it:
Temasek, Deutsche in LSE stake saga
Temasek, the Singapore state investment company, and Deutsche Börse, the German exchange, were linked in reports with an acquisition of Nasdaq’s 31 per cent stake in the London Stock Exchange.
Double blow for Borse Dubai’s OMX bid
Borse Dubai’s $4bn takeover bid for OMX suffered twin blows on Thursday as Sweden’s financial regulator and its government acted to intensify pressure on the Middle Eastern company. Sweden’s FSA ruled that Borse Dubai had broken the law when it bought a large stake in the Nordic market operator on August 9 by not disclosing that its move was a takeover bid.
Swedish regulator set to rule on OMX bid
Sweden’s financial regulator is expected to issue a crucial ruling as early as Wednesday on whether Borse Dubai broke the law when it acquired a large stake in OMX ahead of launching a takeover bid. A negative ruling by Sweden’s FSA would put Borse Dubai under pressure to withdraw from the battle to control OMX and could hand victory to Nasdaq,
Nasdaq to sell £800m LSE stake for OMX bid
Nasdaq will sell its 31 per cent stake in the London Stock Exchange, valued at about £800m, as it steps up its fight with Borse Dubai, for OMX, the Nordic exchange and technology group. Nasdaq said it would use the proceeds from any sale to buy back shares,
Nasdaq could forego London to take on Dubai for OMX
Strapped for cash in Stockholm? There’s an ATM now available in London – at least for Nasdaq.
The US exchange, which has a fight on its hands in its bid to take over the Nordic exchanges operator OMX,
Dubai moves to combat hostility to OMX bid
Dubai hopes to blunt opposition to its $4bn bid for OMX, the Stockholm-based exchange, by offering a Borse Dubai board seat to a Nordic investor if it wins. Dubai faces a challenge in persuading OMX shareholders and Swedish regulators that its bid,
‘But they’re from Dubai’ – Nasdaq set for OMX fight
This was meant to be easier. Nasdaq was left battered by its failed tilt at the LSE, holding a 30 per cent stake in the London bourse and with a depleted balance sheet.
OMX seemed to offer a morale-boosting win at the very least – and OMX would give Nasdaq a platform on which to pursue its European ambitions,
Sweden steps up probe into OMX deal
Sweden’s financial regulator has intensified its investigation of Borse Dubai’s acquisition of a stake in OMX, fuelling doubts about its fitness to operate the country’s stock market. The Swedish FSA on Thursday sent additional questions to Borse Dubai,
Hedge funds step into battle for OMX
Hedge funds have acquired about 25 per cent of OMX ahead of an expected takeover battle for the Nordic market operator between Nasdaq and Borse Dubai. The funds’ presence paves the way for a clash between OMX’s long-term shareholders and management and financial investors,
OMX investors in warning for Borse Dubai
Large shareholders in OMX have sent out a clear signal that oil-rich Borse Dubai’s petrodollars do not guarantee it success in the forthcoming battle for control of the Nordic stock market operator. The Swedish government and Investor,