NYSE Euronext cuts stake in Qatar exchange to 12 pct

Reuters Middle East

DUBAI, Dec 4 (Reuters) - NYSE Euronext, the

transatlantic exchange, reduced its ownership in Qatar stock

exchange by selling an eight percent stake to the Gulf state's

sovereign wealth fund, the Qatar bourse said in a statement on

Tuesday.

Qatar Holding, the investment arm of the Gulf Arab state's

sovereign wealth fund, now owns an 88-percent stake in the

Doha-based bourse, with NYSE Euronext holding the remaining

12-percent stake, the statement said, without giving any

financial details.

The owner of the New York stock exchange had bought a

20-percent stake in the Qatar Exchange in 2009 for $200 million

as part of a strategic agreement to transfer knowledge and

develop the local exchange.

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