Borse Dubai awaits regulator’s ruling

Sweden's financial regulator is expected to issue a key ruling as early as Wednesday on whether Borse Dubai broke the law when it acquired a large stake in OMX ahead of launching a takeover bid, the Financial Times reported.

Swedish Financial Supervisory Authority (Finansinspektionen) has been investigating whether Borse Dubai’s purchase of a 28.4 percent stake in OMX on Aug 9 with the help of options agreements with several hedge funds constituted a takeover bid.

Its ruling will influence any future investigation into whether Borse Dubai is a fit and proper owner of OMX and would put Borse Dubai under pressure to withdraw from the battle with Nasdaq to control the Nordic markets operator, the newspaper noted.