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Dubai: Borse Dubai said on Monday that it had answered all the supplementary questions raised by Sweden's financial regulator regarding its purchase of a significant stake in OMX, as the news of a potential competitive bid from Nasdaq emerged.
The Dubai firm made a $4 billion all cash open offer to the Nordic exchanges operator on August 17 trumping Nasdaq's $3.7 billion cash and share offer.
Last week Sweden's Financial Supervisory Authority (Finansinspektionen) had sought specific clarifications from Borse Dubai on the timing and the nature of options contract it entered with a number of hedge funds to acquire shares of the Nordic exchanges operator.
Routine queries
"Borse Dubai provided answers to all the supplementary questions from Sweden's market regulator within the deadline. They were very routine in nature," said James Wyatt-Tilbey, a London based spokesperson for Borse Dubai.
The regulator and the Swedish government are yet to officially respond to the Dubai bid.
In its offer, the Dubai firm presented strategy to expand OMX's operations in the Middle East, Asia and the rest of the world, while offering to share seats on the boards of OMX and Borse Dubai.
Meanwhile, amid reports that leading investors Investor AB and Nordea Bank are considering the Borse Dubai offer, news agencies said that Nasdaq is preparing for a counterbid for OMX even at the cost of sacrificing $1.5 billion (31 per cent) stake in London Stock Exchange.
OMX shares were up 2.6 per cent at 238 crowns, above Dubai's 230 crown offer price, as the market anticipated a bidding war.
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