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Tracking the consumer evolution of financial services

Borse Dubai launches $4bn bid for OMX

The Dubai Stock Exchange has launched an effort to purchase the Nordic/ Baltic market.  This is reminiscent of the issues last year, with the UAE firm trying and being blocked from managing the American ports.

Finextra: Borse Dubai launches $4bn bid for OMX

Borse Dubai has launched an unsolicited $3.98 billion (SKr27.7bn)
bid for OMX, trumping Nasdaq’s offer for the Nordic and Baltic market

Shares in OMX were suspended on Friday morning
amid frenzied speculation that Borse Dubai was gearing up to launch a
formal takeover bid.

Borse Dubai – a holding company for
the Dubai International Financial Exchange (DIFX) and the Dubai
Financial Market (DFM) – is offering SKr230 in cash for each share of
OMX. The exchange says it already “controls” 28.4% of the
Stockholm-based firm.

Written by Colin Henderson

August 20, 2007 at 00:44

Posted in Middle East

2 Responses

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  1. Certainly some sense of de ja here, Colin.

    But don’t you feel the American Port buy was blocked as a result of the US climate of fear and distrust of anything even vaguely Arab post 911?

    I remember even Checkpoint, the Israeli owned software company being blocked from taking over US software security company SoureFire, whose “Snort” product was used by a lot of US military and government installations for the same reason.

    Dubai knows it’s oil revenues aren’t forever and is committed to establishing itself as the Middle-East’s prime financial centre. This would be a good way to build such expertise, bring much needed stability to the area and a closer working relationships with the West into the bargain.

    I hope it goes ahead.

    Neil Robinson

    August 24, 2007 at 03:21

  2. Neil … Personally, I see it as a good thing for Dubai, and a healthy global economy. But I suspect their will be suspicions and possibly actions from the neo-types in the US.


    August 26, 2007 at 12:04

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