Euronext already had a stake of more than 50 per cent in Oslo Bors before taking on Nasdaq to gain complete control Charles Platiau/ReutersEuronext won approval from Norway’s Ministry of Finance to buy up to 100 per cent of Oslo Bors yesterday, effectively ending a five-month battle with Nasdaq for one of the last independent stock market operators in Europe. While Euronext already has a stake of more than 50 per cent in Oslo Bors, Nasdaq had argued that no takeover should be allowed unless a two thirds stake was obtained in order to ensure a buyer would have complete control. Both had offered 158 Norwegian crowns per share for Oslo Bors, valuing it at about 6.8 billion Norwegian crowns (€690 million), but the Norwegian government’s view was crucial. Stéphane Boujnah, chief executive of Euronext, said that his organisation welcomed the decision and looked forward to closing “the…

Source: The Times May 13, 2019 23:11 UTC