Sweden's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Authorities consider investigation into OMX share trading

Share this article

10:42 CEST+02:00
Sweden's top white-collar crimes bureau will decide on Monday whether to launch a criminal investigation into allegations of insider dealing in Borse Dubai's acquisition of nearly 29 percent of Nordic exchanges operator OMX, the Financial Times reported.

It is understood the national economic crimes bureau's interests centre on trading between the May 23rd date that Nasdaq announced its agreed deal to acquire OMX and Aug 9th, when Borse Dubai acquired its stake, the newspaper added.

"Certain circumstances have come to my attention and I will make a decision on whether or not to begin a preliminary investigation," EBM's Robert Engstedt told news agency TT on Wednesday.

The holding company Borse Dubai - which owns both stock markets in Dubai - announced on August 9th that it had secured control of 25 percent of the shares in OMX.

The Swedish Financial Supervisory Authority (Finansinspektionen - FI) ruled that the press release from Borse Dubai dated August 9th constituted a public takeover bid and was in breach of Swedish law.

Since the company later took steps to rectify the situation, FI elected not to take disciplinary action. On August 17th Borse Dubai made a public bid for OMX worth 230 kronor per share.

The board of OMX has now written to Borse Dubai with a list of questions surrounding the finer points of its bid.

The Dubai move topped an earlier offer from Nasdaq, whose bid is currently worth around 205 kronor per share.

Get notified about breaking news on The Local

Share this article

From our sponsors

How to work 9-5 and travel the rest of the time

A full-time job shouldn’t stop you from satisfying your wanderlust. The Local spoke to Travel After 5 blogger Alline Waldhelm to find out her tips and tricks for travellers who only have 25 days of annual leave.