Nasdaq Stock Market acquired another 9.79 million shares of London Stock Exchange, bringing its holding to 18.7%, confirmed Nasdaq spokeswoman Silvia Davi. Nasdaq paid £119.2 million ($219.85 million) for the stake, after buying 38.1 million shares on April 11.
Separately, executives of Euronext, the company that operates stock exchanges in Paris, Amsterdam, Brussels and Lisbon, as well as the London-based Euronext.Liffe derivatives exchange, ended discussions with London Stock Exchange officials about a possible merger, confirmed Euronext spokeswoman Antoinette Darpy.
Ms. Darpy also said Euronext officials recommended that investors reject a shareholder proposal formally stating that a merger between Euronext and Germany's Deutsche Boerse AG is in the best interest of all Euronext shareholders. Euronext is scheduled to hold its annual general meeting on May 23.
"While this is certainly a serious option, the supervisory and managing boards of Euronext firmly believe that they have a duty to their shareholders and other stakeholders to examine thoroughly all strategic options available to the company," Ms. Darpy said, quoting a statement. "Active discussions with Deutsche Boerse and other parties are therefore continuing, with a view to identifying the most attractive and value-creating transaction available."