Deals
Deutsche Boerse Said Unlikely to Increase BSE Stake Before IPO
- German exchange can raise holding to 15% after rule change
- India’s government allows foreign firms to take bigger role
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Deutsche Boerse AG is unlikely to increase its stake in BSE Ltd. before the Indian stock exchange holds its initial public offering next year, according to two people familiar with the matter.
The German bourse’s stake in BSE was thrust into focus last month when India’s cabinet changed the law to allow foreign companies to own as much as 15 percent of equity exchanges. Despite the change, Deutsche Boerse has no plan to increase its 5 percent stake, said the people, who asked not to be named because the discussions are private. Deutsche Boerse spokesman Heiner Seidel declined to comment, as did BSE spokesman Yatin Padia.