A potential merger between the United Arab Emirates' two main bourses is unlikely before 2011 but would be good for traded UAE companies, the chief financial officer of the region's largest listed builder said on Monday.
'I don't think you will see any progress before next year because the process takes time,' Ziad Makhzoumi, CFO at Arabtec (ARTC.DU) said at the Reuters Middle East Investment Summit in Dubai.
The Gulf Arab emirate has three bourses -- the Abu Dhabi Securities Exchange (ADX), Dubai Financial Market (DFM.DU) (DFM), and Nasdaq Dubai -- each fighting to draw liquidity. DFM and Nasdaq Dubai are merging some operations."
No comments:
Post a Comment