A long-touted merger between the Abu Dhabi and Dubai stock exchanges is still on the table, the United Arab Emirates' economy minister said on Tuesday, with a committee expected to present its recommendations by year-end.
The owners of the Dubai Financial Market, the only listed Arab bourse, and Abu Dhabi Securities Exchange announced two years ago that they were in high level talks on a merger. The process has been stalled on valuations, sources have said.
"It is still being discussed. A committee has been created to discuss ... they will report back to ESCA and then we will evaluate," said Sultan bin Saeed al-Mansouri, who is also chairman of the UAE Securities and Commodities Authority (ESCA).
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