Is Nasdaq picking up stake in BSE? (Times of India)

MUMBAI: Robert Greifeld, CEO of the NewYork based-Nasdaq, the world's leading stock exchange for technology stocks, on Tuesday met officials from the Bombay Stock Exchange (BSE) in a closed-door meeting to discuss a possible strategic partnership between the two stock-exchanges.

While nothing has yet been made public, market sources affirm that the discussions centred around Nasdaq picking up a stake in the BSE. BSE had last month had announced that it would divest a 51% stake by may 2007. It also said 26% stake would be divested in favour of a bank or a stock-exchange.

"We are interested in participating in global consolidation," greifeld said adding "we are interested in forming strategic partnerships in regions where there are synergies in the business model."

BSE officials did not deny their meeting with Nasdaq officials but both sides were tightlipped. Greifeld was accompanied by Charlotte Crosswell, head of Nasdaq International, and Ghanshyam Dass, Nasdaq MD for the asia pacific region.
http://timesofindia.indiatimes.com/articleshow/1838730.cms