ASX/SGX merger in doubt 07 April 2011Singapore/Sydney Reporter: Ben Wilkie
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The proposed merger of the Australian and Singapore stock exchanges has been put in jeopardy by the Australian authorities.
The Foreign Investment Review Board (FIRB) of Australia has said it is minded to reject the merger as contrary to the country's national interest.
FIRB has invited the exchanges to provide further information about the merger. Singapore Exchange says it has already done so, and will show that the merger will result in significant benefits for both Australia and Singapore, including their market users and shareholders.
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