BEIJING, Jan. 24 -- Nasdaq Stock Market Inc, whose offer for London Stock Exchange Plc expires on Friday, has questioned the UK market's growth prospects.

    "It is important to take a realistic view of LSE's future operational and financial potential," Nasdaq said in a statement yesterday.

    LSE's "recent enthusiasm" for a combination with a rival indicates "that they finally admit that their independence may not deliver sufficient value for their shareholders."

    The clock is ticking for Nasdaq to convince shareholders to accept its 1,243 pence-a-share offer for LSE, which has repeatedly rejected the bid as inadequate, Bloomberg News reported.

    LSE Chief Executive Officer Clara Furse, who has refused to meet Nasdaq to discuss a deal, said last week that there is "no reason" Nasdaq isn't a suitable partner, except that the company is "so far away on price."

    Nasdaq, the second-largest US equity market, yesterday reiterated that its offer for the UK market is "full and fair," and said LSE's forecast of 480,000 trades on its electronic SETS platform in fiscal 2008 is "ambitious."

    Shares of LSE fell as much as 19 pence, or 1.4 percent, to 1,297 pence and traded down 10 pence at 1,306 pence as of 9.06am in London yesterday, giving the company a market value of about 2.79 billion pounds (5.5 billion U.S. dollars).

    LSE expects 480,000 trades a day on its electronic SETS platform in the next fiscal year, about 39 percent more than the average last month, Nasdaq said.

    "We are surprised that the LSE board has to this day completely failed to engage with Nasdaq with respect to a recommended transaction," the New York-based market said.

    (Source: Shanghaidaily.com)