By Ian Jones
Published: 29 August 2000 09:01 GMT
Sweden's OM-Group has launched a £808m hostile bid for the London Stock Exchange (LSE), in an attempt to snatch it away from its planned merger with Deutsche Börse.
The OM-Group provides the technology for 20 exchanges around the world, and owns the Stockholm exchange outright. It has had one previous approach rejected by the LSE, but now claims its latest offer is superior to the proposed tie-up with Frankfurt.
However, according to reports on BBC Online, the LSE disagrees. It claims the Swedish offer represents poorer value for its shareholders compared to the creation of the joint British/German iX exchange.
Deutsche Börse is yet to comment on the move, but some reports claim it could now launch a 'white knight' counterbid.
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