By IANS
Dubai : The US foreign investment committee has cleared a proposal of Dubai’s state-owned stock exchange Borse Dubai Limited (BDL) to acquire a stake in Nasdaq, the second largest US equities exchange, WAM news agency reported Wednesday.
According to the plan, the BDL will get Nasdaq’s stake in the London Stock Exchange Group and a 19.9 percent stake in the US exchange, although its voting stake will be limited to 5 percent.
It will also allow Nasdaq to proceed with its plan to merge with Stockholm-based OMX exchange. After that deal closes, Nasdaq will be known as Nasdaq OMX Group Inc.
Nasdaq will make an investment in Dubai International Financial Exchange and enter into certain technology and trademark licences with Borse Dubai and its subsidiary, Dubai International Financial Exchange Limited.