Nasdaq Gets U.S. Government Approval For Borse Dubai Investment
(InvesTrend Via Thomson Dialog NewsEdge)
January 2, 2008 (FinancialWire) Nasdaq Stock Market Inc. (NASDAQ: NDAQ)
has received approval from the Committee on Foreign Investment in the
United States to give Dubai's state-owned bourse a stake in the U.S.
The New York Stock Exchange completed its acquisition of Paris-based
Euronext this year to form NYSE Euronext (NYSE: NYX).
The approval is the first step in allowing the Nasdaq to continue with
its plan to acquire Stockholm-based exchange operator OMX. The new
exchange will be known as Nasdaq OMX Group Inc.
Borse Dubai Ltd. will own a 19.9 percent stake in Nasdaq, though its
voting stake will be capped at five percent. It will also receive
Nasdaq's stake in the London Stock Exchange.
Nasdaq will make an investment in Dubai International Financial
Exchange, which is owned by Borse Dubai.
CFIUS is a committee with representatives from 12 federal agencies
established to review how acquisitions of American assets by foreign
companies might affect national security.
Shares of Nasdaq rose 37 cents to close at $49.49, while shares of NYSE
Euronext rose $1.41 to close at $87.77.
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