ASX-SGX merger gets thumbs down from Aussie government

The Australian Treasurer is disposed to reject ASX-SGX merger proposal, a report said.

According to the Foreign Investment Review Board, the Australian Treasurer is likely to reject the proposed merger between the two bourses as contrary to Australia’s national interest.

In a statement, SGX said it will continue to pursue merger opportunities with other Asian exchanges while remaining open to dialogue with ASX officials.

“SGX, as the Asian Gateway... will continue to pursue organic as well as other strategic growth
opportunities, including further dialogue with ASX on other forms of co-operation,” it said.

Further comment by SGX CEO Magnus Bocker is expected at the 30-minute conference call the bourse has scheduled at 5 p.m. today.