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Dubai: Borse Dubai, the holding company of Dubai Financial Market and Dubai International Financial Exchange, yesterday said it answered all questions raised by Sweden's financial regulator regarding its purchase of a significant stake in OMX last week.
"Borse Dubai provided answers to all the queries from Sweden's market regulator within the deadline," James Wyatt-Tilbey, a London-based spokesperson for Borse Dubai told Gulf News yesterday.
The Swedish Financial Supervisory Authority, or Finansinspektionen, had initiated an investigation following last week's announcement from Borse Dubai, saying it had bought a 4.9 per cent stake in OMX and entered option agreements to raise it to 27.4 per cent through a book building process. The regulator wanted to know whether the Dubai offer amounted to a takeover bid.
Although the Swedish regulator is yet to confirm if Borse Dubai's acquisition of shares meant an open offer, OMX chief executive Magnus Boecker expressed misgivings about a potential bid by Dubai.
Borse Dubai officials met Boecker and Urban Baeckstroem, OMX chairman, On Monday. Boecker told Sweden's Dagens Industri newspaper he was not sure about Dubai firm's intentions. "I am just as before the meeting, still confused over what they want. And I feel unsure over what this means for OMX customers."
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