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Decision on BSE stake in NMCE ‘soon’

Decision on BSE stake in NMCE ‘soon’
PTI
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First Published: Fri, Jun 15 2007. 02 22 AM IST
Updated: Fri, Jun 15 2007. 02 22 AM IST
The Forward Markets Commission (FMC) is likely to take a decision soon on the proposal of the Bombay Stock Exchange (BSE) to buy 26% stake in Ahmedabad-based National Multi Commodity Exchange (NMCE).
“It should not take much time, may be by next week we can take a decision,” FMC member Kewal Ram said.
The commodity market regulator had in December asked all agri-bourses to maintain status quo in their shareholding pattern till guidelines were issued. The decision came after foreign firms Goldman Sachs and Fidelity bought stakes in Indian agri exchanges MCX and NCDEX. An NMCE official said talks on BSE’s offer to buy a stake had been going on for the last several months.
If BSE is allowed to buy 26% stake, it would be highest by a stock exchange in any commodity exchange.
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First Published: Fri, Jun 15 2007. 02 22 AM IST
More Topics: Money Matters | Commodities |