American predator, Nasdaq, is reported to have agreed a deal to sell it’s 31 percent shareholding in the London Stock Exchange to the state-owned Qatar Investment Authority for £14 ($28) a share.

Nasdaq needs the money to raise its offer for the Scandinavian group, OMX.

So far, the motives of the Qataris for buying the share bundle is unknown. As a prelude to a full-scalle takeover bid, it would be unwelcome. The LSE would prefer a buyer who will support its long-term plans.