Nasdaq’s Robert Greifeld has put the American company’s substantial stake in the London Stock Exchange up for sale.

The move is thought to signal the end of the aggressive CEO’s ambitions to take over the LSE, while giving him extra leverage in his bid for the Scandinavian exchange group, OMX.

The sale would open the way for a higher offer on OMX, after the Dubai Financial Centre topped Nasdaq’s agreed bid last week.

Speculation is rife that a deal between Nasdaq and Dubai may be in the offing, which would leave the ambitious Gulf State with a major holding in the LSE and Greifeld with a clear run at OMX.

That would be yet another blistering headache for Clara Furse and her team in the City.