Nasdaq To Take 5% Equity Stake in Borsa Istanbul

Date : 12/31/2013 @ 7:20AM
Source : Dow Jones News
Stock : Nasdaq, Inc. (MM) (NDAQ)
Quote : 68.87  0.2 (0.29%) @ 8:00PM

Nasdaq To Take 5% Equity Stake in Borsa Istanbul

Nasdaq, Inc. (NASDAQ:NDAQ)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Nasdaq, Inc. Charts.

Nasdaq OMX Group (NDAQ) will take a 5% equity stake in Borsa Istanbul A.S. as part of a deal that also includes technology-sharing and advisory services, the exchanges said Tuesday.

Nasdaq will have the option to increase its stake in the Turkish entity by 2% and will receive a series of cash payments.

Borsa Istanbul will share in Nasdaq's market technology while receiving guidance on strengthening its brand and building a capital markets hub for Eurasia. Borsa Istanbul may also end up with a "minority participation" in Nasdaq, the companies said.

The deal is the culmination of the exchanges' July agreement, in which both companies said they wanted to expand their footprint in the region. At the time, Nasdaq also said the deal would help Borsa Istanbul hold an initial public offering in the first quarter of 2016.

Shares of Nasdaq were inactive at $39.83 before the open.

Write to Michael Calia at michael.calia@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires





Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.