Wary after loss of LSE, Nasdaq may join rival Borse Dubai for OMX acquisition

US electronic exchange Nasdaq is selling its stake in LSE after having failed repeatedly in its bid to acquire the London bourse. The US exchange had built up an around a 31-per cent stake in the UK exchange, in a bid to pressure the management of LSE. (See: Nasdaq selling LSE stake for OMX acquisition)

Nasdaq''s decision to offload its LSE stake comes as it battles it out with Borse Dubai to buy Sweden-bases Nordic exchange OMX, which owns exchanges in Sweden, Denmark, Finland, Iceland and the Baltic states. (See: Borse Dubai outbids Nasdaq for Nordic exchange OMX at $3.98 billion)

According to reports, Nasdaq is looking to sell anywhere from half to its entire stake in LSE, which it bought over time at an average of about £11 pounds a share

Analysts believe Nasdaq''s sale could place the LSE under further takeover pressures from the new acquirers of the stake. They say if a large stake were to be sold to a single investor, this could lead in the long term to the LSE being bought outright.

A number of exchanges are believed to be keen to acquire its stake, valued at around $1.58 billion, in the London Stock Exchange (LSE), which operates Europe''s largest stock exchange.

The LSE, which is mainly focused on listing shares of UK and international companies, recently gained shareholder support to buy Borsa Italiana, which analysts say would help it prevent being acquired, amid increasing pressures to consolidate in the sector.