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NYSE Euronext to limit Qatar bourse stake to 20%

  NYSE Euronext is renegotiating its investment in the Qatar Securities Market, cutting its stake in the bourse to 20% from 25% after seeing profits drop amid tough trading conditions.

Under a restructured agreement, in the process of negotiation and is expected to close in the next few months, NYSE Euronext would pay $200 million, down from $250 million, in installments of $40 million over a period of four years.

The transatlantic bourse beat the London Stock Exchange in June 2008 to win the Qatar deal in an attempt to build a new integrated cash and derivatives exchange in Doha. (Reuters)