Friday, September 21, 2007
Several influential lawmakers have indicated that Borse Dubai's acquisition of a 20% stake in Nasdaq did not raise national security concerns. The deal requires approval under a recent law adopted in response to Dubai's efforts to buy an operator of US ports. Under the deal, Borse Dubai will elect two of Nasdaq's 16 directors and will have no more than 5% voting rights. As part of the deal, Borse Dubai is also buying Nasdaq's 28% stake in the London Stock Exchange, and, in exchange, Nasdaq gets the Nordic operator, OMX AB. NYTimes, Mild Reaction in Capitol to a Dubai Nasdaq Stake.
The Wall St. Journal reviews other deals by Dubai or Qatar, who are competing for dominance in many markets, including the London Stock Exchange, in which Qatar purchased a 20% stake. WSJ, As Oil Hits High, Mideast Buyers Go on a Spree.