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Borse Dubai says sold complete stake in London Stock Exchange

Reuters - UK Focus

DUBAI, March 26 (Reuters) - Borse Dubai has sold its complete 17.4 percent stake in the London Stock Exchange (Other OTC: LDNXF - news) (LSE), a statement from the company said on Thursday, although it did not disclose the price at which the shares were sold.

The firm had been the biggest single shareholder in the LSE prior to the sale, which occurred on Wednesday through a so-called book building process which was set to raise around 1.5 billion pounds ($2.23 billion), sources familiar with the deal told Reuters.

The sale was managed by Bank of America (Swiss: BAC.SW - news) -Merrill Lynch, Barclays (LSE: BARC.L - news) and Nomura International, the statement said.

Borse Dubai is the holding company for Dubai Financial Market and Nasdaq Dubai. It was formed in August 2007 to consolidate the government of Dubai's two stock exchanges as well as its investments in other exchanges such as the LSE. (Reporting by Hadeel Al Sayegh; Editing by David French)