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You're browsing: Archived News » 2007 HSBC » Article Title: Sweden’s Financial Supervisory Authority Slams Borse Dubai
24
Aug
Sweden’s Financial Supervisory Authority Slams Borse Dubai
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Dubai’s effort to break up the agreed takeover of Swedish stock exchange operator OMX Group (OMX.ST) by NASDAQ (NDAQ) suffered a severe blow Aug. 23. Sweden’s Financial Supervisory Authority ruled that Borse Dubai, a government-owned holding company, “breached the law” when it issued a press release Aug. 9 announcing that it was in the process of buying OMX shares.

The regulator says the press release amounted to a takeover offer and that Borse Dubai, which was advised by HSBC (HBC), should have informed the Swedish authorities that it was making such a move. The regulator decided against taking any punitive action.

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  1. Sweden » Blog Archive » DEEP PURPLE Drummer Cancels Appearance At Sweden's DRUM AND BASS DAYS says:
    8/27/2007 at 5:43 am

    [...] Sweden’s Financial Supervisory Authority ruled that Borse Dubai, a government-owned holding company, “breached the law” when it issued a press release Aug. 9 announcing that… — This is a summary only. Visit http://www.householdwatch.com for … …more [...]

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