Qatar, Dubai gain control of London Stock Exchange
Quoting LSE sources, a Qatari newspaper reported
the gas-rich Gulf state bought an additional 3 per cent of shares on
Friday, a day after it bought a 20 per cent slice of Europe's oldest
The Qatar Investment Authority (QIA), the
investment unit of the Qatar government, initially bought a 20.8 per
cent stake off two hedge funds.
This would put the QIA's overall share in the LSE at nearly 24 per cent.
United Arab Emirates' group Borse Dubai meanwhile agreed to buy a 28
per cent LSE holding from Nasdaq, meaning the two now hold nearly 52
per cent of the stock exchange.
The US-based Nasdaq, which was
the LSE's biggest shareholder with a 31 per cent holding, said last
month that it wanted to sell up after a failed hostile takeover