[chottala.com] Qatar Group Buys London Exchange Stake

Qatar Group Buys London Exchange Stake

2 hours ago

Qatar Investment Authority Takes 20 Percent Stake in London Stock Exchange

LONDON (AP) — The Qatar Investment Authority said Thursday it had acquired a 20 percent stake in the London Stock Exchange, the same day that Borse Dubai announced a deal to acquire the Nasdaq Stock Market's 28 percent stake in the LSE.

Terms of the Qatar deal were not disclosed.

Saying it intended to by a long-term shareholder, the Qatar Investment Authority said it "sees itself as a shareholder that will provide stability and support for the board's strategy of developing further its business and thereby reinforce the City of London's position as the world's top global capital market."

It ruled out a takeover bid for the time being, but said it reserved the right to change that position if someone else announces an intention to bid.

The London Stock Exchange, which declined to comment earlier Thursday about the Dubai deal, welcomed the Qatar investment. It said it had a long-standing relationship with the Qatari investors based on plans to develop the market in Qatar.

"The exchange believes that, given the strength of Qatar's economy and the development of Doha as a major financial center, there are significant opportunities to build further this relationship to the mutual benefit of both parties," it said in a statement.

Nasdaq failed in its bid earlier this year to take over the London Stock Exchange, which has turned away several bids over the past few years.

LSE shares soared 9.8 percent to 1,596 pence ($32.03) on Thursday. Borse Dubai is paying 1,414 pence ($28.38) per LSE share in its deal with Nasdaq.

Canada.com Qatar Group Buys London Exchange Stake The Associated Press - 1 hour ago LONDON (AP) — The Qatar Investment Authority said Thursday it had acquired a 20 percent stake in the London Stock Exchange , the same day that Borse Dubai ... Dubai to Buy Large Stake in Nasdaq New York Times Dubai to buy large stake in Nasdaq International Herald Tribune LSE welcomes Qatari group as long-term investor Reuters.uk AFP all 562 news articles »   LON:LSE Qatar buys 20 pct of LSE; says no plans for takeover bid UPDATE Hemscott, UK - 2 hours ago LONDON (Thomson Financial) - The state-backed Quatari Investment Authority (QIA) said it has bought a 20 pct stake in the London Stock Exchange, ... LON:LSE Carlyle to Sell Stake to Abu Dhabi for $1.35 Billion (Update2) Bloomberg - 24 minutes ago Like neighboring Qatar, which today said it bought 20 percent of London Stock Exchange Group Plc, it's using energy earnings to buy stakes in overseas ...

 

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