India: Troubled stock exchange to merge with largest shareholder

The largest shareholder in the United Stock Exchange has reportedly announced plans to merge with USE to aid its struggling currency trading operations.

The board of BSE has reportedly voted to merge with USE. Reports say BSE’s plan will allow the stock exchanges to more adequately compete with its largest rival NSE.

BSE confirmed the news and told reporters it could be in communications with authorities to complete the merger. USE declined to comment.

According to reports, the merger would be the first stock exchange merger in India.

Full content: Money Control

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