Dubai and Abu Dhabi stock exchange official said they had no knowledge of plans to combine the two United Arab Emirates bourses after Reuters reported that a merger is imminent.
“This is not true,” Rashed Al Baloushi, deputy chief executive officer at the Abu Dhabi Securities Exchange, said by telephone today. “I can’t confirm or deny that a merger may take place in the future because I’m not aware of any such plans.”
Dubai Financial Market PJSC Chairman Essa Kazim said he wasn’t aware of any merger plans. The two bourses are seeking to create a single exchange as income from trading falls, Reuters said, citing two people it didn’t identify.
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