Nasdaq's LSE stake grows to 25.1%

Nasdaq's steady buying spree has raised questions about its motives

US stock market operator Nasdaq has increased its holding in the London Stock Exchange (LSE) to 25.1%.

Nasdaq has been steadily boosting the size of its stake in the LSE, sparking speculation that it is about to launch a new takeover bid.

In March, Nasdaq withdrew a proposed £2.43bn ($4.2bn) bid for the LSE after the exchange rejected its approach.

Nasdaq said it bought another 2.22 million LSE shares on Friday at an average price of 1,235.5 pence each.