Euronext sees off Nasdaq in battle for Oslo Børs

Euronext sees off Nasdaq in battle for Oslo Børs

Nasdaq has withdrawn its takeover offer for Oslo Børs, clearing the way for Euronext to buy the Norwegian exchange operator.

Nasdaq and Euronext have been in a protracted battle for Oslo Børs, with both tabling identical bids of $790 million for the Nordic bourse in a back-and-forth exchange which has been ongoing since the turn of the year.

However, earlier this month the Norwegian government gave Euronext approval to buy more than 50% of Oslo Børs, effectively killing off Nasdaq's chances.

Says a Nasdaq statement: "This decision has been made because under the current circumstances the minimum acceptance condition for completion of the Offer is incapable of being satisfied."

Nasdaq - which already operates trading venues in Denmark, Sweden, Finland and Iceland - is stressing its commitment to the region, noting plans to launch a pan-European Day-Ahead Market for electricity certificates, with Norway as its epicentre.

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