State-run Borse Dubai violated Swedish takeover law in the run-up to a bid for exchange owner OMX but no action against the group is planned, a Swedish regulator said on Thursday.
U.S. exchange Nasdaq said it was talking to key shareholders in OMX to persuade them to accept a share-only bid for the Nordic exchange operator and that some had agreed, the Financial Times reported on Tuesday.
Borse Dubai launched a $4 billion cash offer for Nordic exchange owner OMX on Friday, trumping an agreed deal with U.S. exchange Nasdaq, in a bid to create a group with global reach.
The Swedish Financial Supervisory Authority said Thursday it has sent more questions to Borse Dubai regarding its share and option purchase in Nordic stock exchange operator OMX last week.
Hedge funds have acquired about 25% of OMX ahead of an expected takeover battle for the Nordic market operator between Nasdaq and Borse Dubai, the Financial Times reported.
Hennes & Mauritz said its sales in July rose 14% year-on year, while market expectations were for a 15.1% rise, according to a survey of analysts by SME Direkt.
Swedish bus and truckmaker Volvo on Wednesday said its second-quarter net profit dropped 14 percent, mainly hurt by higher costs and continued tough market conditions in North America.
Ericsson, the world's biggest mobile network maker, reported softer second-quarter earnings than expected on Friday, posting flat sales in its key European market and disappointing the market in its multimedia drive.
Swedish drug company Meda said on Friday it signed an $800 million cash-and-stock deal to buy allergy and pain treatment specialist MedPointe. from a group of U.S. investors.
OMX posted a second quarter profit after financial items of 369 million Swedish krona ($55.47 million), up from 266 million last year, boosted by a 101 million Swedish krona ($15.18 million)capital gain, and with all divisions showing improved profitability.
Electrolux, the world's second-largest appliances maker, posted second-quarter core earnings in line with market expectations on Tuesday and stood by its outlook of somewhat higher earnings this year.
Ford Motor, responding to reports that it's putting its Volvo unit up for sale, said it is not negotiating with anyone to sell the Swedish automaker.
Swedish aerospace and defense company Saab's net profit rose 48% in the second quarter, driven by solid results from its defense and security solutions, and systems and product divisions, the company said Friday.
Sweden's central bank raised its key repo interest rate by 25 basis points on Wednesday as expected, taking interest rates to 3.50%, their highest level since March 2003.
Swedish fashion giant Hennes & Mauritz second-quarter profits and May sales fell short of expectations on Wednesday, despite high-profile campaigns featuring pop icons Madonna and Kylie Minogue.
IBM, the world's largest technology services firm, has agreed to buy business software and services provider Telelogic for about 5.2 billion crowns ($748.6 million) in cash, the Swedish firm said on Monday.
World number two truck maker Volvo is selling its 28.7% stake in U.S. truck stop chain Petro Stopping Centers, yielding a capital gain of $46.3 million.
Ford Motor said it has not entered talks with anyone to sell Volvo, despite reports that BMW was interested in a possible purchase of the Swedish automaker.
Scandinavian Airlines officials met with union representatives Monday in a bid to end a cabin crew strike that has grounded hundreds of flights to and from Sweden since last week.
Dubai International Financial Centre (DIFC), the owner of the Dubai stock exchange, is mulling a rival bid to Nasdaq's agreed $3.7 billion takeover of Nordic markets owner OMX, the Sunday Times reported.