May 13, 2019 / 6:02 AM / a month ago

Norway paves way for Euronext takeover of Oslo Bors

FILE PHOTO: A man walks past the Oslo Stock Exchange building in Oslo, Norway April 10, 2019. REUTERS/Nerijus Adomaitis

OSLO (Reuters) - Norway will allow Euronext to take a majority stake in Oslo Bors VPS, the country’s finance ministry said on Monday, confirming an earlier statement by Euronext.

The decision effectively ends a five-month battle between Euronext and Nasdaq for ownership of the Norwegian stock market operator.

While Euronext has already secured a stake of more than 50% in Oslo Bors, Nasdaq had argued that no takeover should be allowed unless a two-thirds stake was obtained.

No such restrictions will be imposed, the Norwegian ministry said in a statement.

Reporting by Terje Solsvik; Editing by Simon Cameron-Moore

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