Qatar to win LSE stake with $5.6 billion bid

Business Materials 17 September 2007 08:08 (UTC +04:00)

( Reuters ) - Qatar's state investment fund is set to win the auction of Nasdaq's 31 percent stake in the London Stock Exchange Group after lodging a bid of 2.8 billion pounds ($5.6 billion), the Sunday Times reported on Sunday.

U.S. exchange Nasdaq has puts its LSE stake on the market to boost its chances of buying Nordic exchange operator OMX.

The Qatar Investment Authority's 2.8 billion pound bid is equivalent to a 1,400 pence per share, the Sunday Times said.

LSE shares closed at 1,397 pence on Friday.

No one was available for comment at the LSE or the Qatar Investment Department.