Dubai purchase of major stake in NASDAQ deserves examination, says sen. Melendez

[The Straight Story]

DUBAI PURCHASE OF MAJOR STAKE IN NASDAQ DESERVES EXAMINATION, SAYS SEN. MENENDEZ

Menendez applauds NASDAQ for submitting to CFIUS process, calls for "vigorous and thorough" review

Thursday, September 20, 2007

WASHINGTON – The Borse Dubai stock exchange, which is controlled by the Dubai government, is announcing today that it will purchase a major share in the NASDAQ exchange, as well as the London Stock Exchange.

U.S. Senator Robert Menendez, who was one of the first to raise concerns over the ill-fated Dubai ports deal last year, released the following statement:

“Certainly, the integrity of our financial markets is vital to our national stability and security, and it is wise to know everything we can about the controlling interests, particularly if foreign governments are involved. These are uncharted waters, and we must ensure that foreign government ownership does not have the potential to disrupt the market.

“NASDAQ has announced it will submit to the CFIUS review process – that is the right move, and I applaud them for undertaking it. The review must be vigorous and thorough, answering all lingering questions. The more information and understanding we have, the more we can be certain of the stability of our markets.”

http://menendez.senate.gov/newsroom/record.cfm?id=283750&