Nasdaq increases stake in Norway's Oslo Bors

FILE PHOTO: A view of the exterior of the Nasdaq market site in Times Square New York City, NY, U.S. April 25, 2017. REUTERS/Shannon Stapleton/File Photo

(Reuters) - U.S. stock market operator Nasdaq Inc said on Thursday it has increased its stake in Norway’s Oslo Bors VPS with a purchase of 844,071 shares in the Norwegian bourse.

The purchase represents nearly 2 percent of Oslo Bors’ outstanding shares as of Thursday, data from the Norwegian exchange operator showed.

It was made at 158 Norwegian crowns per share, and was in line with the terms of offer that were amended last month, Nasdaq said in a statement.

After the purchase, 37 percent of Oslo Bors’ shares are owned by Nasdaq or are subject to pre-commitments to accept the offer, the U.S. exchange operator said.

Stock market operators Euronext and Nasdaq, both vying for the control of Oslo Bors, have been deemed fit and proper owners by the Norwegian financial supervisory authority.

Earlier this month, Euronext said it had secured the backing of the holders of 53.1 percent of the shares in Oslo Bors, giving it a lead over Nasdaq, which has backing from about one-third of the owners.

Reporting by Kanishka Singh in Bengaluru, Editing by Sherry Jacob-Phillips