Borse Dubai has received regulatory approval from the US Committee on Foreign Investment to proceed with its investment in rival stock market, the New York-based Nasdaq.
The approval means Borse Dubai can continue with its plan to acquire two thirds of the shares in Nordic exchange OMX, which forms part of its wide-ranging deal with the US exchange.
The OMX board unanimously recommended the transaction on 2 January.
As part of the agreement Borse Dubai will then swap its holding in OMX for a combination of shares in Nasdaq and cash.
Nasdaq in turn will invest in Borse Dubai’s subsidiary, the Dubai International Financial Exchange, and help with technology and branding.
You might also like...
Oman secures 1.5GW contract renewals
08 May 2024
Oman extends 1GW wind prequalification
08 May 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
