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The London Stock Exchange Group PLC (LSE.LN) isn't bidding for a 51% stake in the state-owned Warsaw Stock Exchange, a person familiar with the situation said Friday.

This leaves the bidding process in the hands of three other potential bidders - Deutsche Boerse (DB1.XE), Nasdaq OMX Group Inc. (NDAQ) and NYSE Euronext (NYX).

In July, Poland's Treasury Ministry said the four exchanges were shortlisted as potential bidders for the Warsaw bourse, which is being privatized.

The person familiar with the talks said LSE is no longer in the running for the controlling stake. "Some opportunities are just not that attractive," the person said.

The LSE recently said it is in exclusive talks to buy Turquoise, a relatively small pan-European trading platform which has taken a small part of the LSE's market share in equity trading since it started a year ago.

LSE bought Sri Lankan software company MillenniumIT in September for $30 million as part of a plan to replace its TradElect trading platform with a faster system which can better compete against other exchanges and trading platforms.

In 2007, the LSE bought Italy's Borsa Italiana for just more than EUR1.6 billion.

Company Web site: www.londonstockexchange.com

By Vladimir Guevarra, Dow Jones Newswires; +44 (0) 2078429486; vladimir.guevarra@dowjones.com