Dubai: Borse Dubai to complete Nasdaq deal in early 2008

Click here: Gulf News – Borse Dubai to complete Nasdaq deal in early 2008

Borse Dubai, the holding company of Dubai International Financial Exchange and Dubai Financial Market, is confident of completing its deal with Nasdaq in early 2008, through which it will acquire close to 20 per cent stake in the US exchange, said Eisa Kazim, chairman of Borse Dubai.

“We are sure the deal is going ahead and we will make sure that it will be completed within the time frame agreed by all parties,” Kazim said at the Middle East Capital Markets conference in Dubai yesterday.

Borse Dubai and Nasdaq entered into a complex agreement on September 20 by which the Dubai firm would eventually sell all its OMX shares to Nasdaq in return for a 19.99 per cent in the merged entity between Nasdaq and OMX. The deal would also result in Nasdaq acquiring a stake in DIFX and re-branding it into Nasdaq-DIFX.

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