Connect with us

Hi, what are you looking for?


SGX chief disappointed at bourse merger veto

SINGAPORE, Apr 11 – The architect of a doomed merger between the Singaporean and Australian stock markets expressed disappointment Monday at Canberra\’s veto, but said he was still in the hunt for other deals.

The Swedish chief executive of the Singapore Exchange (SGX), Magnus Bocker, issued his first public comments after Australian Treasurer Wayne Swan on Friday formally blocked the tie-up with the Australian Securities Exchange.

"I think we got a very clear signal on Friday," Bocker said on the sidelines of a corporate event. "We will take the time to analyse that. I think there is no doubt that it was a disappointment."

But he added: "The primary focus has been all the time on organic growth… there will always be opportunities like the one with ASX."

Swan had rejected the proposed merger on the grounds that it was essentially a takeover by SGX that offered no benefits to Australia.

"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 on Friday.

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

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...