The U.S. government has cleared a deal that will give Dubai's state-owned stock exchange a minority stake in Nasdaq, the U.S. stock exchange said on Monday, according to DPA. Nasdaq, which first made the announcement on Friday and then withdrew the notice saying it had been issued in error, said the federal approval allows it and Borse Dubai to proceed with a deal reached earlier this year. Under the pact, Dubai gets Nasdaq's stake in the London Stock Exchange Group and a minority stake in the U.S. exchange. It will also allow Nasdaq to proceed with its plan to combine with Stockholm-based OMX.
