FINANCE - US Nasdaq may acquire 7 percent of Borsa Istanbul:
"American finance giant Nasdaq OMX Group plans to pay $30 million for a 7 percent share of Borsa Istanbul (BIST), and to give 1 or 2 percent in shares from its technology company, according to a draft of the preliminary deal seen by daily Hürriyet.
Nasdaq and Borsa Istanbul signed the partnership deal in July, but detailed terms of the alliance were under cover.
The preliminary deal, which is still under the negotiation process, foresees the transfer of 7 percent of the shares of Turkey’s sole stock exchange to the U.S. giant, which indicates that the parties calculated the market value of BIST at more than $430 million. "
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