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Dubai, Abu Dhabi stock exchange merger still possible

21 March 2012

The UAE economy minister has said a long-touted merger between the Abu Dhabi and Dubai stock exchanges is still on the table, with a committee expected to present its recommendations by year-end, Reuters has reported. The owners of the Dubai Financial Market, the only listed Arab bourse, and Abu Dhabi Securities Exchange announced two years ago that they were in high level talks on a merger. "It is still being discussed. A committee has been created to discuss ... they will report back to Securities and Commodities Authority (ESCA) and then we will evaluate," said Sultan bin Saeed Al-Mansouri, who is also chairman of ESCA. "I do hope by the end of the year we will have some kind of indication, it has to be done in a very systemic way. It serves the interests of both markets."

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