OMX suspends trading

Nordic stock market operator OMX has suspended trading in its own shares on the Stockholm exchange, according to a statement by the stock market on Friday morning. More information is expected during the day.

OMX has agreed to a takeover by Nasdaq, but Borse Dubai has also shown an interest, and has bought 27 percent of the company.

Sweden’s Financial Supervisory Authority meanwhile has intensified its investigation into Borse Dubai’s acquisition of a stake in OMX, the Financial Times reported.

The financial regulator yesterday sent additional questions to Borse Dubai, seeking details of the options contracts it used to amass its stake in the Nordic markets operator.

Borse Dubai said Tuesday that a recent bookbuilding, which resulted in it taking a 4.9 percent direct stake in OMX and options for a further 22.5 percent at 220 kronor per share, does not constitute a takeover offer.

The FSA sent an initial batch of questions concerning the transaction to Borse Dubai last week.

The follow-up suggests the FSA thought the answers it received were unsatisfactory, the newspaper noted.

Borse Dubai’s move threatens to hijack an agreed 208 kronor per share bid for OMX from Nasdaq.

TT/The Local/AFP