Euronext new owner of Oslo Stock Exchange

Ola Grytten.
Photo: NHH and Flickr by Tord Sollie.
NHH By Ingrid Aarseth Johannessen

22 May 2019 12:57

Euronext new owner of Oslo Stock Exchange

‘The transaction provides more capital, but reduces Norwegian control’, says Professor of Economics Ola H. Grytten at The Norwegian School of Economics

Thursday 16th of May, it was announced that the pan-European stock Exchange Euronext is the new owner the Oslo Stock Exchange (OSE).

‘Oslo Stock Exchange has never had a foreign owner, so this news marks an important milestone in Norwegian history, says Professor of Economics Ola H. Grytten at The Norwegian School of Economics (NHH).

Larger global player

Grytten describes the transaction as an important historical event. He believes that OSE, on the owner’s side, now will gain a significantly larger international position.

‘As a result of the transaction, Norway can expect to gain more capital, but at the same time, a foreign ownership will probably lead to less Norwegian control’, he says.

The professor emphasizes that the structural changes in the ownership of OSE, will not influence the Norwegian economy significantly.

‘As long as Norway has strong legislations and control functions towards the main stock exchange, the Oslo Stock Exchange will be safe. Separate tax regimes and national registration of Norwegian companies, will also be necessary, says the Professor.

Stronger European stock market

Euronext prevailed in its bid for the exchange after the Norwegian government deemed both Euronext and Nasdaq of the US as worthy owners.

Grytten believes that the new ownership will strengthen the European stock market and the competition towards American owners. This will benefit the Oslo Stock Exchange, the Professor says.

‘Due to this transaction, Norway will be a part of a large European market operator. This can be of great advantage, as the stock exchange can achieve more attention and also increase its correspondence with other European stocks’, he says.