Big money from the Middle East is still stalking the London Stock Exchange.

The Qartar Investment Authority, which is also preparing to buy J Sainsbury, the British supermarket chain, is said to be joining forces with three major Italian investors to take Nasdaq’s stake in the LSE, worth around £1billion ($2bn).

Nasdaq is selling its shareholding to increase its offer for Nordic exchange OMX, where it is in competition with another Gulf state, Dubai.