US stock exchange 'ponders London move'
US stock exchange Nasdaq is preparing to list in London should its bid for the London Stock Exchange (LSE) succeed, according to a report today.
Nasdaq is planning on a dual listing in London and New York partly to satisfy critics in the UK who fear the takeover would diminish the role of the City, the Sunday Telegraph reports.
One source told the paper that Nasdaq may go one step further and move its main headquarters to London if the regulatory climate in the US were to become less attractive in the future.
Nasdaq has acquired a 25.1% stake in LSE over the past year.
There has been considerable interest in LSE for two years. Australian bank Macquarie has previously made an offer while the New York Stock Exchange and Euronext have also expressed an interest.
In September, talks were held with FTSE 100 Index-listed Icap, which specialises in electronic derivatives, fixed income and other money-market broking, over a possible merger.
Discussions broke down as Icap chief executive Michael Spencer believed the exchange's share price was too high after recent takeover speculation.
Shares closed at 1234p on Friday giving LSE a market capitalisation of £2.6bn (€3.9bn).
