No plans to sell LSE stake, Borse Dubai says

20 November 2008

State-owned stock exchange operator Borse Dubai has revealed that it has no intention of selling its shares in the London Stock Exchange (LSE) for the time being.

At a press conference in the United Arab Emirates this week, the organization's chairman Essa Kazim referred to the 20.6 percent stake that Borse Dubai holds in the LSE as "very strategic" and confirmed that it will keep hold of it.

This is despite reports that $4.2 billion debt refinancing negotiations are underway.

The LSE is one of the world's oldest bourses and has a history dating back to 1698.

According to its official website, it became the leading equity platform in Europe in 2007 when it merged with Borsa Italia.

During the same year, Borse Dubai - which is the holding company for the Dubai International Financial Exchange and the Dubai Financial Market - bought its stake in the LSE as part of a deal with Nasdaq.

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