Bags, the future of the London Stock Exchange passes through Dubai

The London Stock Exchange Group, since it was a predator, risks becoming a prey, especially if Gulf shareholders decide to divest their controlling shares. Currently, 20,6% of the LSE Group is in the hands of Borsa Dubai, while 15,1% belongs to the Qatari Investment Authority. According to analysts, Dubai's participation would seem to be the one most at risk of demobilization. Not only disappointment, therefore, for the failed merger with the Tmx group that manages the Toronto Stock Exchange. The operation, which would have combined the fourth and seventh stock exchanges in the world by capitalization, would have created a giant worth around 6 billion dollars, second only to the Nyse Euronext group. The deal would have vanished due to the opposition of Tmx shareholders, who would not have received adequate support from the LSE and who will now have to pay a 10 million dollar penalty for their veto on the merger. LSE, which already controls 100% of Borsa Italiana, will have to quickly review its international expansion plans if it wants to maintain its autonomy. A potential buyer is the world number two, the Nasdaq Omx group, which brings together the Manhattan technology index, the Stockholm Stock Exchange and other smaller markets concentrated in Scandinavia and the Baltic.