Financial Services Industry
Industry: Email Alert RSS FeedThe LSE's Curse of Being Courted
US Banker, April, 2007 by Karen Krebsbach
The London Stock Exchange is licking its wounds after a couple of attacks from American rivals, but executives vow it's solidly on track for growth. The LSE is still smarting from the Nasdaq Stock Exchange's failed $5.3 billion hostile takeover bid in February and recent comments by New York Stock Exchange chief executive John Thain, who blasted the LSE's junior exchange, the Alternative Investment Market, for having "no standards at all."
Martin Graham, director of markets at the LSE, sniffed during a recent conversation with visiting foreign journalists that it doesn't "need a partner like Nasdaq" anyway, which had been doggedly pursuing the exchange for a year, and still owns 28.75 percent of its shares. However, Graham didn't rule out a proposal from the NYSE, once the...
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