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Borse Dubai is selling just under a third of its long-held stake in Nasdaq, the US exchange operator and financial technology provider.

The sale of 27mn shares will leave the Middle Eastern exchange with a 10.8 per cent stake, making it Nasdaq’s second-largest investor.

Thoma Bravo, the private equity firm, has a 12.5 per cent holding, according to LSEG data, which came via last year’s $10.8bn sale of a financial risk technology business to Nasdaq.  

In 2007, Borse Dubai resolved a bid battle with Nasdaq, in which Borse Dubai bought a 20 per cent stake in the US operator in return for Nasdaq regaining control of Nordic exchange operator OMX.

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