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Showing posts with label Canberra blocks ASX-SGX merger. Show all posts
Showing posts with label Canberra blocks ASX-SGX merger. Show all posts

Canberra blocks ASX-SGX merger

Australian Treasurer Wayne Swan officially blocked on Friday the proposed merger of the Australian and Singapore stock exchanges, branding it a takeover that would damage national interests.

"Let's be clear here: this is not a merger. It's a takeover that would see Australia's financial sector become a subsidiary to a competitor in Asia," he said.

"It was a no-brainer that this deal is not in Australia's national interest."

Swan said Australia's "economic and regulatory sovereignty over the ASX would be at risk" if the deal went through, making Australia's

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