ASX says needs take part in global bourse consolidation

SYDNEY (Reuters) – Australian bourse operator ASX (ASX.AX: Quote, Profile, Research) said it continued to believe in the business logic of a proposed takeover by Singapore rival SGX (SGXL.SI: Quote, Profile, Research) and also saw a need to take part in global bourse consolidation.

“The ASX Board maintains a strong belief in the need to participate in global exchange consolidation and in the business logic of the announced combination with Singapore,” it said in a statement on Thursday.

“The recent merger announcements by the London and Toronto exchanges as well as by NYSE Euronext and Deutsche Borse, underscore the dynamic forces driving developments among global exchanges.”

(Reporting by Balazs Koranyi; Editing by Narayanan Somasundaram)

ASX says needs take part in global bourse consolidation