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MARK AUSTIN THOMAS: The London Stock Exchange is pressing ahead with its plan to link up with its counterpart in Tokyo. The move follows the failure over the weekend by Nasdaq to take over the London market. Stephen Beard reports from London.

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STEPHEN BEARD: The LSE's chief executive Clara Furse is clearly relieved that she's beaten off Nasdaq's takeover bid and is now turning her attention to forging an alliance, not a merger, with Tokyo.

Nasdaq won the backing of less than 1% of the other LSE shareholders over the weekend, but Clara Furse should not rest on her laurels says analyst David Buik.

DAVID BUIK: Unless Mrs. Furse goes on the front foot taking the LSE forward and being acquisitive, rather than being prey for a predator, then I think we could se the share price drifting down below £12.

An alliance with Tokyo will not protect the LSE from another takeover bid, he says.

Hedge funds now have a large stake in the London Exchange and Nasdaq, hardly a friendly shareholder, says it will hang on to its holding. Nasdaq will be allowed to bid again after a year.

In London, this is Stephen Beard for Marketplace.