Exclusive: UAE bourses merger shelved as terms not agreed - sources | Reuters:
"A planned merger of the Dubai Financial Market and the Abu Dhabi Securities Exchange (ADX) has been shelved for the foreseeable future as terms for the politically sensitive move could not be agreed, sources told Reuters on Thursday.
Having been mooted for a number of years, a merger of the DFM and the ADX seemed to take an important step closer last year as investment banks were hired to advise on a tie-up - a move revealed by Reuters last October.
The state-backed deal, seen as one of the biggest changes in the country's financial industry in recent years, was expected to energize financial markets in the United Arab Emirates, making it easier for investors to operate across the markets, stimulating trade and attracting more foreign investment."
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