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FinancialNews


  • 31-03-10

    Abu Dhabi, Dubai may merge stock markets

    (MENAFN) The Financial Times reported that Dubai and Abu Dhabi are in talks to merge the two emirates' stock exchanges offering the possibility of lower costs and higher trading volumes. A merger between publicly listed DFM and Abu Dhabi Exchange would create a larger and more liquid platform, which would better reflect the size of the UAE economy, the Gulf's second largest after Saudi Arabia. DFM is 80 percent owned by Borse Dubai, an entity that is controlled by the Dubai government and Dubai Holding, a conglomerate owned by Sheikh Mohammed bin Rashid Al-Maktoum, Dubai's ruler. The ADX is owned by the Abu Dhabi government. Discussions over a possible merger have taken place for at least five years, but they may have a greater chance of success in the current environment. Over the past year, Abu Dhabi and the UAE central bank have stepped in to extend financial support to indebted Dubai.

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