Mayor demands inquiry on LSE bid

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The London mayor Ken Livingstone yesterday renewed his assault on Nasdaq's bid for the London Stock Exchange by publishing a letter calling on competition watchdogs to launch a full-scale investigation.

Mr Livingstone said a successful Nasdaq takeover would "seriously damage London's competitiveness as a leading international marketplace".

Despite the Government's plan to enact a new law to ensure that the LSE remains regulated in Lon-don, the mayor said in the letter that he believed damaging US regulations would inevitably creep into the UK.

And he warned that there was a "real danger" that the transaction would result in a relocation of innovation, skills and comeptitiveness to the US.

LSE shares closed unchanged at £13.11. Nasdaq's "final offer" was pitched at £12.43 a share.

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