Huffpost Business

George Soros Buys Stake In Bombay Stock Exchange

Posted: Updated:

THE DEAL: Billionaire George Soros' Quantum hedge fund has purchased Dubai Financial Group's 4 percent stake in the Bombay Stock Exchange. The deal values Asia's oldest exchange at over $800 million.

THE BACKDROP: Soros' investment comes as India works to modernize its capital markets, opening new exchanges, streamlining trading and introducing new products, like currency futures. With retail stock ownership still low and a booming economy, India's stock markets are of increasing interest to foreign investors.

THE EXCHANGE: Brokers own 44 percent of the BSE, with public shareholders controlling the rest. The BSE had 4,990 listed companies as of July and a market capitalization of $1.4 trillion, according to its website.

Around the Web

Soros buys 4% of Bombay exchange - The Globe and Mail

Soros buys stake in Bombay stockmarket

Soros buys 4% of Bombay bourse - Business News, Business - The ... / Companies / Financial Services - Soros set to buy stake ...

UPDATE: George Soros Buys 4% Stake In Bombay Stock Exchange -