Abu Dhabi favours DFM merger
The acting head of Abu Dhabi Securities Exchange has provisionally endorsed the idea of a merger with its regional neighbour, the Dubai Financial Market, UAE daily The National reports.
“The exchange has to be big enough to reflect the real economy of the country. I very much wish to see the exchanges come together. I support it very much,” the paper quoted Rashed al Baloushi, the bourse’s acting chief executive, as saying.
But he cautioned that there were political and commercial considerations to be negotiated before the talks led anywhere. Market participants suggest potential sticking points include the location of the bourse’s headquarters.
ADX is reportedly keen to boost investment from foreign market participants, especially from China. A larger UAE exchange would help pool liquidity from outside investors.
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