Nasdaq in the market for LSE

The US technology exchange, Nasdaq is looking to do a deal with the London Stock Exchange (LSE).

A spokesman for Nasdaq said: "There is a logical potential partnership with the LSE in that it has an established presence and contacts with key players." John Hilley, chairman of Nasdaq International, was quoted in the Financial Times saying the company is to begin a "quick, orderly and friendly process" to explore an alliance with the LSE. The LSE has only just fought off a hostile takeover bid from Swedish Exchange OM, which was voted out by shareholders last Friday. LSE chairman Don Cruickshank has been heavily criticised for poor leadership after the failure of the LSE's proposed merger with the German Deutsche Börse. LSE refused to comment on this story.