Dubai Buys 20 Percent Stake In NASDAQ

Source: Nightly Business Report, Washington Post

Nasdaq Strikes Deal With Borse Dubai

By KARL RITTER
The Associated Press
Thursday, September 20, 2007; 12:27 PM

STOCKHOLM, Sweden -- The Nasdaq Stock Market is selling a nearly 20 percent stake to Borse Dubai and is taking control of the Nordic exchange operator OMX as part of a sweeping settlement of their battle for control of OMX.

In a global stock market shakeup, Borse Dubai and a group from Qatar also moved to become the largest stakeholders in the London Stock Exchange.
....

In exchange, Nasdaq will pay Dubai 11.4 billion kronor ($1.72 billion) in cash and give it a 19.99 percent stake in Nasdaq. Dubai will also acquire a 28 percent stake in the London Stock Exchange from Nasdaq, which failed to take over the LSE earlier this year. It wasn't clear what would happen to its remaining 3 percent stake in the London exchange.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2007/09/20/AR2007092000346.html

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The original title I provided for this post was "Dubai Buys 20 Percent Of NASDAQ," which erroneously suggested, I quickly noticed, that Dubai was buying 20 percent of the market value of all the stocks in NASDAQ. That would be news. Rather, Dubai is buying a stake in the exchange, not 20 percent of the stocks in the exchange.

:(

this whole Dubai thing really creeps me out.

the middle east.

FILL UP YOUR SUV BOYS, AMERICA HAS BEEN SOLD TO ALLAH

Oh ya, some saudi prince already bought some of that.

Hide your money.

the money laundering capital of the world.