Does NYSE Want To Own The London Stock Exchange?

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Reuters reports that NYSE Euronext (NYX) might want to buy the Nasdaq (NDAQ) 31% ownership in The London Stock Exchange. It would be a humiliation for Nasdaq since its rival was able to land an exchange in Europe by picking up Euronext, but NDAQ was rebuffed in London. But, no matter, because NDAQ wants to take the $1.6 billion that it thinks it can get from its LSE stake and use it to buy the Nordic OMX.

There are, of course, other potential buyers. Interest in Australia, Germany, and Singapore are mentioned as suitors. But, if NYX can get a large stake in LSE it could become the dominant North American/European Exchange with huge portion of the world’s largest companies among its listings.

That may be worth the investment.

Douglas A. McIntyre