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United Arab Emirates: Adviser hirings hint at stock exchange merger

By  |  October 2, 2013

Sources say the United Arab Emirates’ Abu Dhabi and Dubai have both hired advisers to guide a potential merger of the nation’s two main stock exchanges, say reports.

In an exclusive report by Fox News, reports say anonymous sources have confirmed banks were hired to advise on a combining of the Dubai Financial Market and the Abu Dhabi Securities Exchange; rumors of their merger have swirled in recent years.

If a merger were successful, the deal could boost investment across markets within the UAE, say reports.

According to the sources, Abu Dhabi has hired JP Morgan Chase as well as First Gulf Bank; Investment Corporation of Dubai has reportedly hired Citigroup to advise on a possible deal.

Spokespeople for the advisers declined to comment.

Full Content: Fox Business

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