Oct. 28 (Bloomberg) -- Singapore Exchange Ltd.’s A$8.1 billion ($7.9 billion) bid for ASX Ltd. was dealt another setback when three key Australian lawmakers said they opposed the sale of the nation’s bourse.

Australian Greens member Adam Bandt, the National Party of Australia’s Tony Crook and independent Andrew Wilkie today joined independent Bob Katter in opposing the proposed tie-up between Asia’s fifth- and eighth-largest bourses. That means Singapore Exchange, part owned by the city-state’s government, needs the support of the minority Labor government, which hasn’t decided its stance on the deal, and at least four other lower house legislators to approve the deal.

“I would not support any move to sell the Australian Stock Exchange to Singapore or to interests in Singapore,” Wilkie told reporters in Canberra today. “The Australian Stock Exchange is just too fundamentally important to our economy and to our sovereignty.”

Singapore Exchange shares today climbed 0.8 percent to S$8.91 at 11:49 a.m. in the city state

Edited October 28, 201016 yr by Warrior88

2 old friends' casual talk some 10 yrs ago, now makes everybody high tension, sigh.

- Just talk only, testing testing.

- Systems upgrade, staff turnover, scripts transfer here & there.

- SGX-registered players whack ASX counters.?

- ASX-registered players whack SGX counters.?

- SGX brokers likely to buy package lunch next yr liao.

- If merge, CDP how? System & human upgrade also.

- Singtel & "Octopus" lesson not learnt.

Oct. 28 (Bloomberg) -- Singapore Exchange Ltd.’s A$8.1 billion ($7.9 billion) bid for ASX Ltd. was dealt another setback when three key Australian lawmakers said they opposed the sale of the nation’s bourse.

Australian Greens member Adam Bandt, the National Party of Australia’s Tony Crook and independent Andrew Wilkie today joined independent Bob Katter in opposing the proposed tie-up between Asia’s fifth- and eighth-largest bourses. That means Singapore Exchange, part owned by the city-state’s government, needs the support of the minority Labor government, which hasn’t decided its stance on the deal, and at least four other lower house legislators to approve the deal.

“I would not support any move to sell the Australian Stock Exchange to Singapore or to interests in Singapore,” Wilkie told reporters in Canberra today. “The Australian Stock Exchange is just too fundamentally important to our economy and to our sovereignty.”

Singapore Exchange shares today climbed 0.8 percent to S$8.91 at 11:49 a.m. in the city state

Edited October 29, 201016 yr by bepgof