Nasdaq 'could hold on to LSE stake if bid fails'

Nasdaq could hold on to its stake in the London Stock Exchange (LSE) for a year and a half if its hostile bid fails next week, despite earlier threats to shed its holding, it was disclosed today.

The chief executive of the New York-based exchange, Bob Greifeld, pledged to wage a long battle for the LSE in a sign that it has already admitted defeat ahead of the shareholder acceptance deadline next Saturday.