From Qataris grab a further 3% stake in LSE
Qatar
’s government owned Investment Authority acquired a large amount of stock in the London stock exchange after NASDAQ sold its holdings there. This purchase brings Qatar’s ownership to 24%, approaching Dubai’s 28% holdings. Qatar’s purchase brings it closer to the maximum stake it can have (29.9%) without making a full bid for the Exchange. With that level of ownership, Qatar can make it extremely difficult for Dubai to make a takeover bid, bolstering Qatar’s position in the battle for influence in London between the two nations. Qatar is also seeking to model its own exchange in Doha after London.
This entry was posted on Sunday, September 23rd, 2007 at 9:34 pm and is filed under Economics, Globalization. You can follow any responses to this entry through the RSS 2.0 feed.
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