Nasdaq Stock Market, which planned to use proceeds from its stake in the London Stock Exchange sale to pay down debt and repurchase stock, also funnel some of the money toward its play for Sweden’s OMX AB exchange has been contacted by Temasek Holdings, Singapore’s state-owned investment vehicle about acquiring the shares, reported by London’s Sunday Times on August 27, 2007.
Dow Jones Newswires later quoted Singapore officials as denying the report. A Nasdaq spokeswoman declined to comment on specific reports but said the exchange hadn’t announced any shift in its week-old position. The exchange said Aug. 20 that the sale of its 31 percent stake in the LSE wouldn’t go to a single bidder, or a group of bidders “acting in concert.”
The latest reports come at a time of widespread deal making and consolidation among the world’s stock exchanges, with electronic trading squeezing profit margins and making tie-ups an attractive way to gain market share.
