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Dubai stock exchange owner to bid for OMX

Dubai stock exchange owner to bid for OMX
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First Published: Mon, Jul 16 2007. 08 38 AM IST
Updated: Mon, Jul 16 2007. 08 38 AM IST
London: The owner of Dubai stock exchange is preparing an offer for Nordic stock market group OMX, rivaling the proposed $3.7 billion merger between OMX and US group Nasdaq, Telegraph reported on Sunday 15 July.
The Dubai International Financial Centre (DIFC), owner of the Dubai International Financial Exchange, has funding in place to bid up to 250 crowns per OMX share, the website said.
Nasdaq’s cash and stock offer was worth $3.7 billion when made in May and valued OMX at 208.1 crowns per share.
Bankers at UBS and Goldman Sachs are understood to have been asked to be on standby to launch a bid for OMX on behalf of the DIFC as early as next week, the website said.
Shares in OMX closed at 210 crowns on Friday 13 July.
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First Published: Mon, Jul 16 2007. 08 38 AM IST
More Topics: Money Matters | Global Markets |