There are no losers and only winners from a plan to unify the three UAE stock markets with Abu Dhabi simultaneously buying Dubai’s 20 per cent stake in the London Stock Exchange for $1.5 billion.
The deal reported yesterday in The Sunday Times, without revealing its source, would follow an important move to sort out the debts of Borse Dubai that closed at the end of last week. The company that controls Dubai’s two stock exchanges sold some of its shares in the Nasdaq OMX Group to raise $673 million towards repaying a $2.45 billion loan.
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