LSE takes on Nasdaq

The London Stock Exchange moved to fend off US rival Nasdaq’s hostile bid today by unveiling plans to return an extra £250m (€380.8m) to shareholders.

The share buy back boosts the £50m (€76.2m) already pledged for the 2007 financial year, bringing the total over the last two and a half years to £974m (€1.5bn), 35% of the LSE’s current market capitalisation.