LSE, NYSE Euronext eye Indian bourse stake: Report
New Delhi: The London Stock Exchange and the New York Stock Exchange Euronext may pick up a five percent stake each in MCX Stock Exchange, India`s newest bourse, a newspaper report said, citing two people close to the development.
The founders of MCX-SX, which aims to be the third national level stock exchange, have to pare their stake by September 15 to comply with regulations, the paper said.
However in March, a source familiar with the matter said that the London bourse was not in talks buy a stake in the Indian exchange.
MCX-SX officials could not be immediately reached for comment.
Financial Technologies and Multi Commodity Exchange of India Ltd, the two founding firms, have already bought down their combined holding to 70 percent from 100 percent.
MCX-SX is hopeful of getting the regulators approval to start equity trading when it pares its founders ownership to 40 percent, the paper cited an investment banker as saying.
Deutsche Bank, Nomura Financial Advisory, and Antique Capital Markets are advising MCX-SX on the transaction, the paper said.
More from India
More from World
More from Sports
More from Entertaiment
- Revealed - How Indian Army hit terror camps across LoC!
- Pak forces will teach Zee News what real surgical strike is: Hafiz Saeed
- DNA: Indian Army carries out surgical strikes across LoC
- India used 'Cartosat 2c' satellite in surgical strikes against Pakistan
- Panel discussion on Hafiz Saeed's reaction after Indian Army surgical strikes
- Hafiz Saeed threatens Zee News, says Pak forces will teach what real surgical strikes are
- Pak postpones SAARC Summit after five member states pull out of conference: As it happened
- After threatening Zee News, Hafiz Saeed says PM Modi, Ajit Doval staged `surgical strike drama'
- India's surgical strikes: Pakistan buries slain terrorists to hide evidence, asks Masood Azhar to go mum
- Who is Chandu Babulal Chauhan and why India wants to bring him back from Pakistan - Read