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DFM takeover of Nasdaq Dubai ‘within two weeks’

Dubai Financial Market’s Essa Kazim says 'it is in the interest of everybody to consolidate'.

March 30, 2010 11:13 by

The Dubai Financial Market’s takeover of NASDAQ Dubai will be completed within two weeks, according to the DFM’s executive chairman Essa Kazim.

Borse Dubai, the majority owner of the DFM and Nasdaq Dubai, agreed to buy Nasdaq OMX’s remaining stake in Nasdaq Dubai late last year.

Kazim says further consolidation in the market would be beneficial. “It is in the interest of everybody to consolidate. There have been discussions at the top level, meaning the owners of the exchanges,” he told Reuters.

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