The London Stock Exchange does not want to sell out to the American stock exchange NASDAQ, and NASDAQ is trying even harder to buy them. On Thursday, NASDAQ told LSE shareholders that they had a week to encourage LSE management to begin talks with NASDAQ. So far, the management has refused, calling NASDAQ's December offer of £12.45 per share "wholly inadequate." The LSE has announced plans to buy back £250 million of stock to prevent NASDAQ from increasing their ownership in the LSE from the current figure of 28.8 percent to over 50 percent, which would give them control of the British exchange. The LSE is also promoting their current freedom from American regulators as a reason to resist increased ownership by NASDAQ.