OMX says buys Armenian stock exchange

STOCKHOLM Wed Nov 21, 2007 5:36am EST

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STOCKHOLM Nov 21 (Reuters) - Nordic and Baltic stock exchange company OMX OMX.ST said on Wednesday it had bought the Armenian stock exchange and the Central Depository of Armenia.

Terms were not disclosed.

OMX is buying 100 percent of the shares in the exchange, known as Armex, and the depository. It said in a statement the deal was in accordance with a letter of intent signed in April.

"In addition to the share purchase agreement, OMX and the government of Armenia have also signed a cooperation agreement outlining joint efforts to support the long-term development of the capital market in Armenia," the Nordic and Baltic bourse owner said.

OMX's board is considering a cash offer of 265 crowns per share from state-run Borse Dubai, which has teamed up with U.S. exchange Nasdaq (NDAQ.O) to buy the Nordic and Baltic exchange owner.

The firms have said the offer has received acceptances representing 47.6 percent of OMX shares.

Regulators have given the green light for the Nasdaq-Dubai deal.

(Reporting by Adam Cox, editing by Sue Thomas)

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