Dubai: Borse Dubai, the newly formed holding company of Dubai International Financial Exchange and Dubai Financial Market is all set to make a $4 billion full takeover offer to shareholders of OMX this week, according to investment banking sources and media reports.
The UK's Sunday Times yesterday reported that the Dubai firm will seek the approval of the OMX board to make a full £2 billion ($4 billion) takeover offer for the exchange this week, to beat Nasdaq's $3.7 billion bid. Borse Dubai chairman Eisa Kazim was not available for comment.
');
Reacting to the reports, Bo Albertsson, a public relations representative for Borse Dubai told Gulf News from Stockholm yesterday that the company has no comments to offer on talks about a full-scale bid. "We have nothing more to say than what has been said in a statement on Thursday. We cannot comment on market talks," he said.
Borse Dubai currently owns 4.9 per cent of OMX and has options for 22.5 per cent. The options are through a book building process with some unnamed investors, taking Dubai's total potential stake to 27.4 per cent.
Last week's purchase of shares by Borse Dubai has come under regulatory scrutiny in Sweden.
Albertsson yesterday asserted that the Dubai firm complied with all Swedish laws while making the acquisition.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment