Friday, 31 July 2015
Last updated 17 hours ago
Jul 29 2010 | 11:42am ET
Hedge fund Soros Fund Management is on the verge of taking a stake in the Bombay Stock Exchange.
The New York-based firm is in final talks with Dubai Holdings, which wants to offload its own 4% stake in the Indian bourse. Soros plans to pay about $40 million for the stake, the Financial Times reports.
The move comes amid signs of disagreement between the BSE and the Singapore Stock Exchange, which also owns 4% of the Mumbai exchange. The SGX recently gave up its board seat at the BSE, and has been looking to partner more closely with the BSE’s chief rival, the National Stock Exchange of India, which is significantly larger.
Private equity firm Argonaut bought a minority stake in the BSE earlier this year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…