06 Mar '11, 10pm

ASX deal will help companies grow: Singapore Exchange

The Singapore Exchange (SGX), pursuing a takeover of ASX, said the deal would help companies trading on the Australian Stock Exchange attract money to expand. "We need to help listed companies' investors get easier and cheaper transactions," SGX chief executive officer Magnus Bocker said yesterday on the Australian Broadcasting Corp's Inside Business programme. "We need to combine our resources to become stronger. That's what you've seen in Europe. That's what you've seen in the United States and that's what you see in Asia coming now," Mr Bocker said. The SGX, seeking approval for the transaction, expects to file an application to Australia's Foreign Investment Review Board within 10 days, he added. Regulatory approval of Chi-X Global as a competitor to Austra-lia's main stock exchange operator may make it easier for the SGX to tackle opposition to its bid. Bloomberg

Full article: http://www.todayonline.com/Business/Businessinbrief/EDC11...

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