Anil Ambani eyes stake in commodity bourse | The Daily Star
12:00 AM, August 19, 2010 / LAST MODIFIED: 12:00 AM, August 19, 2010

Anil Ambani eyes stake in commodity bourse

Indian billionaire Anil Ambani's group plans to buy 26 percent of a local commodities exchange, signalling growing corporate interest in bourses where Goldman Sachs and IntercontinentalExchange have bought small stakes.
The Reliance Anil Dhirubhai Ambani Group (R-ADAG) plans to buy a stake in the Indian Commodity Exchange (ICEX), a leading bourse for trade in metals including gold, while Jaypee Capital wants to acquire 26 percent in the National Commodity and Derivatives Exchange, said the market regulator, whose approval is needed for stake sales in bourses.
R-ADAG's Reliance Money, a unit of Reliance Capital, will buy the stake from Indiabulls Financial Services Ltd, which owns 40 percent of ICEX, which was founded last year by state-run metals and farm commodities trader MMTC Ltd, two sources in Indiabulls said

Stay updated on the go with The Daily Star News App. Click here to download it for your device.

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top