Shares fall as Dubai Financial Market Company ‘cannot confirm or deny’ merger talks with Abu Dhabi Securities Exchange | The National:
"Dubai Financial Market Company’s stock fell almost 6 per cent yesterday after the region’s only listed bourse said it “cannot confirm or deny” a report that its controlling shareholder had hired banks to advise on a merger with the Abu Dhabi Securities Exchange.
Speculation over such a deal first surfaced in May 2010, but no progress has been made public since the initial announcements from both bourses.
The UAE has three stock exchanges: ADX, DFM, and Nasdaq Dubai. The latter has been incorporated into DFM.
“As DFM Company, we are not directly involved in any discussions about the subject, if any and their outcome,” Essa Abdul Fattah Kazim, DFM’s chief executive, said on Wednesday after the market closed."
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