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Temasek Not Interested in Nasdaq's LSE Stake: Report

CNBC.com
Monday, 27 Aug 2007 | 8:01 AM ET

Singapore's Temasek Holdings is not interested in acquiring Nasdaq's stake in London Stock Exchange, sources told Dow Jones Newswires, casting doubt on a previous Sunday Times report.

The paper had said in an unsourced report that state-owned investment company Temasek had approached Nasdaq for talks on the possible buyout of the U.S. company's 30% stake in LSE, worth around $1.6 billion.

"There is no truth to the report. Temasek has no interest whatsoever in the LSE," a person familiar with the situation told Dow Jones.

The Sunday Times report said the New York Stock Exchange and the Chicago Mercantile Exchange were also vying for Nasdaq's stake in the LSE, while the Observer newspaper said, in a separate report, that Nasdaq was seeking to sell half of the stake to Deutsche Boerse.

Nasdaq, keen to expand abroad, is locked in a bidding war with Borse Dubai for Nordic stock exchange operator OMX, which owns exchanges in Sweden, Denmark, Finland, Iceland and the Baltic states. Borse Dubai topped Nasdaq's bid for OMX, with a $4 billion offer.

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