Stock exchange operator Euronext has received a positive recommendation from the Norwegian financial regulator regarding an acquisition of Oslo Børs. Watchdog Finanstilsynet informs the Ministry of Finance that Euronext should be approved as a suitable owner of the Norwegian stock exchange operator.
Euronext welcomes the advice and is now waiting for the latest approval from the Ministry, an important step to complete the transaction. The Norwegian Ministry of Finance has announced that it wants to have made a decision on 14 May, but that postponing it is also possible.
The company still expects the completion to take place at the end of the second quarter.
Euronext has been involved in a takeover battle with the American company Nasdaq for some time. With its takeover bid, Euronext is assured of support from more than half of the shareholders of Oslo Børs. According to the latest reports, Nasdaq in turn still has to make do with commitments from around one third of the investors, but it also has the support of the Oslo Børs board. Both Euronext and Nasdaq offer around 705 million euros on Oslo Børs.