Singapore Pursuit of Aussie Stock Exchange Gets New Boost

February 10th, 2011
in econ_news

Econintersect:  No sooner had the Hong Kong Stock Exchange (HKEx) revealed that it was consider alliances or mergers with other exchanges to improve it's compettitve position, than the merger proposed by the SGX (Singapore Stock Exchange) with the ASX (Australian Stock Exchange) received a new boost.  Regulatory hurdles in Australia had recently slowed the Singapore efforts.  However, the SGX has announced it has secured $3.7 billion in funding from six banks to back its $7.9 billion offer for the ASX.  (Amounts in U.S. dollars.)

Follow up:

It is expected that there will be a flurry of merger explorations in the coming weeks.  On Thursday, Bursa Malaysia Bhd, operator of the Malaysia stock exchange, said it was open to exploring collaboration.  And the London Stock Exchange (LSX), which has already acquired Borsa Italiana and announced a merger with the Toronto/Montreal Exchange (TMX) earlier this week, is reportedly interested in acquiring the AXS should the Singapore deal fall through.  

Sources:  GEI News, Indonesian Stock Market News and Reuters 

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