The stock exchange BSE has called off the merger of its unit ☐ at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development.
BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
"Merger discussions were at a preliminary stage. Since it's taking long with no end in sight, it was decided to focus elsewhere," said a source with direct knowledge. On queries sent to BSE, the spokesperson said that the merger discussions are being discontinued. Email queries sent to NSE remained unanswered until the time of going to press.
This story is from the May 24, 2024 edition of Business Standard.
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This story is from the May 24, 2024 edition of Business Standard.
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