21 August 2017
visit www.avoka.com

OMX suspends shares amid frenzied bid talk

24 May 2007  |  4327 views  |  0 OMX

Nordic and Baltic market operator OMX has suspended trading in its shares on its own Stockholm exchange amid rising speculation of a bid for the Sweden-based firm from the London Stock Exchange (LSE) or Nasdaq.

OMX is due to release further information about the share suspension before markets open on Friday morning. The shares had risen 3.2% on the day to SKr180 before trading was halted. The stock has risen 14% in the past week and is up 43% so far this year on the back of bid talk.

OMX said in April that it was in "cooperation talks" with other exchanges, which were not disclosed. That statement followed press reports that Nasdaq had made a Skr23 billion offer for the company. But recent market speculation has pitched the LSE as a potential bidder for OMX, as well as Germany's Deutsche Börse.

The exchange operator has refused to comment on any speculation. OMX CEO Magnus Böcker unexpectedly failed to show for a panel session at an industry event in London today. Another notable absentee was LSE chief executive Clara Furse who was scheduled to attend the event but pulled out earlier.

The Scandinavian market operator has previously been the subject of bid talk from a number of potential buyers, including Nasdaq and the LSE. OMX also tried to buy the UK exchange and originally launched a hostile takeover in 2000, which was rejected by LSE shareholders.

However, a more mundane explanation for the suspension of trading may relate to recently disclosed plans by the Swedish government to sell its 6.7% stake in OMX as part of a national privatisation programme.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OMX to acquire Armenian Stock Exchange

OMX to acquire Armenian Stock Exchange

27 April 2007  |  6289 views  |  0 comments
OMX confirms merger talks

OMX confirms merger talks

12 April 2007  |  7988 views  |  0 comments
Nasdaq in talks to buy OMX - reports

Nasdaq in talks to buy OMX - reports

11 September 2006  |  5950 views  |  0 comments
LSE calls off OMX merger talks - reports

LSE calls off OMX merger talks - reports

28 November 2005  |  7784 views  |  0 comments
OM fails to win over LSE shareholders

OM fails to win over LSE shareholders

10 November 2000  |  4678 views  |  0 comments
OM Gruppen extends LSE bid deadline

OM Gruppen extends LSE bid deadline

27 October 2000  |  3881 views  |  0 comments
LSE issues third defence against OM bid

LSE issues third defence against OM bid

19 October 2000  |  4337 views  |  0 comments
LSE scorns "inadequate" OM bid

LSE scorns "inadequate" OM bid

25 September 2000  |  4489 views  |  0 comments
OM tables formal offer for LSE

OM tables formal offer for LSE

12 September 2000  |  4595 views  |  0 comments
OM launches £808 million hostile bid for LSE

OM launches £808 million hostile bid for LSE

29 August 2000  |  5105 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10887 views comments | 24 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9109 views 0 | 5 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
8990 views comments | 21 tweets | 25 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8983 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8754 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job