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Nasdaq chief in Stockholm for OMX talks

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17:54 CEST+02:00
Nasdaq's CEO Bob Greifeld is in Sweden on Monday and Tuesday to meet major shareholders and representatives for OMX.

On Friday Borse Dubai made a competing bid for OMX worth 230 kronor per share, or a total of 27.7 billion kronor ($3.93 billion). Prior to the weekend, Nasdaq's bid was worth 198 kronor per share, or 4 billion kronor less than the Dubai exchange's offer.

Ahead of his trip to Stockholm, however, Greifeld spoke of Nasdaq's "structural flexibility" with regards to closing the deal.

The Swedish government has not yet taken a stance in relation to the two bids.

"We think it is extremely important to carefully analyse the consequences of these bids, which is also something that is required by the Swedish National Audit Office (Riksrevisionen)," Minister for Financial Markets Mats Odell told news agency TT.

According to the minister, the highest bid is not necessarily the one that will eventually be accepted.

"The price is an important factor, but it is not the only one. We also have to take into account the possible future development of the financial market," he said,

Should OMX accept the Dubai bid, the Swedish state stands to make a quarter of a billion kronor more than it would from a Nasdaq takeover. The state currently owns 6.6 percent of the shares in OMX.

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