Do More With Reuters
Partner Services

UPDATE 1-LSE, NYSE Euronext eye Indian bourse stake-report

Wed Aug 26, 2009 9:59pm IST
 
Email | Print | | Single Page
[-] Text [+]

* LSE, NYSE may each pick up 5 pct stake in MCX-the Mint

* LSE met MCX but talks still at early stage-source

(Adds comments from source)

MUMBAI/LONDON, Aug 26 (Reuters) - The London Stock Exchange (LSE.L: Quote, Profile, Research) and the New York Stock Exchange Euronext (NYX.N: Quote, Profile, Research) may pick up a 5 percent stake each in MCX Stock Exchange, India's newest bourse, the Mint newspaper 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 Sept. 15 to comply with regulations, the India-based paper said.

NYSE Euronext and the LSE both declined to comment.

A source familiar with the matter told Reuters the LSE was among the people MCX-SX met, but added the talks were still at an early stage.

MCX-SX has made presentations across the United States, Europe and Asia since mid-July, meeting about 25 foreign investors, including stock exchanges, the Mint reported.

It is unclear how keen the LSE is in taking a stake in the India bourse, after new Chief Executive Xavier Rolet took over from Clara Furse in May.   Continued...

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage