The Wall Street Journal-20080216-The Buzz- NYSE Invests in India

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The Buzz: NYSE Invests in India

Full Text (166  words)

A WSJ News Roundup

NYSE Euronext agreed to acquire a 5% interest in the Multi Commodity Exchange in India.

The 5% investment is the maximum interest permitted by foreign investors in derivative exchanges under Indian law. The parent company of the New York Stock Exchange expects the deal to close during the first half.

There are 14 corporate listings from India on NYSE Euronext markets, 12 on the New York Stock Exchange and two on Euronext, whose combined total global market capitalization is over $110 billion.

Meanwhile, Nasdaq Stock Market Inc. said Borse Dubai's successful tender for Nordic stock-exchange operator OMX AB and subsequent sale of OMX shares to Nasdaq will be the final milestone in a deal to create Nasdaq OMX Group. The deal will close Feb. 27.

On Thursday, Qatar's investment group said it had sold its OMX stake. Under the plan, Borse Dubai plans to buy OMX and swap it to Nasdaq in return for a minority holding in the combined Nasdaq OMX.