Announcing the bid - Bourse Dubai Chair His Excellency Essa Kazim (r) and CEO Per Larsson

New Dubai Bid for OMX

The owners of the Dubai stock exchange have made a 4 billion US dollar offer for the Stockholm-based Nordic and Baltic stock exchange OMX.

The offer could spark a bidding war for OMX, between the Dubai stock exchange, and the New York-based Nasdaq exchange.

Nasdaq officials have already encouraged OMX shareholders to ignore any Bourse Dubai offer, saying they are committed to buying 100 percent of shares in OMX – a bid worth some 3.7 billion dollars.

The Swedish state, one of the biggest share holders in OMX, with a 6.6 percent stake, has so far not commented on the Dubai exchange bid. In a press release, OMX said management would consider the Dubai exchange’s bid, and make an annoucement to share holders in the near future.

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