SYDNEY - AUSTRALIA'S competition watchdog on Wednesday said it
would not oppose a proposed US$8.3 billion (S$10.8 million) merger
between the Australian and Singapore stock exchanges.
In a move which brings the merger one step closer, the
Australian Competition and Consumer Commission said the planned
merger between the Singapore Exchange Limited and Australia's ASX
Limited was unlikely to result in a substantial decrease in
competition.
'In Australia, SGX does not compete with ASX for trading,
clearing or settlement services,' it said in a statement.
'ASX and SGX do compete for listing services, but only to a
limited extent.'
-- AFP