ASX/SGX merger in doubt
07 April 2011 Singapore/Sydney
Image: Shutterstock
The proposed merger of the Australian and Singapore stock exchanges has been put in jeopardy by the Australian authorities.
The Foreign Investment Review Board (FIRB) of Australia has said it is minded to reject the merger as contrary to the country's national interest.
FIRB has invited the exchanges to provide further information about the merger. Singapore Exchange says it has already done so, and will show that the merger will result in significant benefits for both Australia and Singapore, including their market users and shareholders.
The Foreign Investment Review Board (FIRB) of Australia has said it is minded to reject the merger as contrary to the country's national interest.
FIRB has invited the exchanges to provide further information about the merger. Singapore Exchange says it has already done so, and will show that the merger will result in significant benefits for both Australia and Singapore, including their market users and shareholders.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times