The status of the long-awaited merger of Abu Dhabi and Dubai’s stock markets remains murky, much to the consternation of local brokers who hope a unified bourse will reignite investor interest in the United Arab Emirates.
Talks appear to have hit an impasse, and some observers fear momentum behind the merger has been lost.
However, while it makes sense to merge the three bourses, lawyers and bankers say that reforming the UAE’s regulatory architecture should be a more pressing priority.
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