NYSE Euronext Partners with Qatar

In a quest to continue its global expansion, NYSE Euronext(NYX Quote) on Tuesday said it will acquire a 25% stake in Qatar's Doha Stock Market for $250 million.

The deal, expected to close in the fourth quarter, will provide the Big Board with a business hub in the Middle East. NYSE will get three of the 11 seats on the Doha board, while Qatar retains a 75% stake in the market. The trading currency will be the Qatari Riyal, although it is expected that there will be capabilities to list multicurrency instruments.

A relative newcomer, the Doha Securities Market began operations in May 1997 and is up 26% year to date. Its market capitalization has jumped from $5.2 billion in 2000 to $136 billion. A minority share of the Doha exchange will be sold in a domestic initial public offering within the next three years. ...