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Swedish group bids for London Stock Exchange

The London Stock Exchange is the target of a Swedish group trying force a hostile takeover of the recently floated company.

OM Group of Sweden has made an offer of £27.19 per share valuing the company at £808m. The LSE rejected a similar cash and shares bid last week. OM provides technology to stock exchanges. It already owns the Swedish stock exchange.

City figures do not take the Swedish bid seriously but say it could result in a higher bid from another source such as the Frankfurt exchange or New York based Nasdaq.

They also hope it will result in the LSE being forced to make more detail about its proposed merger with the German exchange known to shareholders.

The LSE has conceded the vote on the iX merger will be delayed because of the takeover bid. The vote is currently scheduled for September 14.

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Neptune video: Indian valuations and Modi’s pro-investment agenda

Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.

In the video, Kunal addresses:

• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle

• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda

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