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Commodities Briefing - Categorized | Commodities Exchanges, M&A more

Indian Commodity Exchange, Universal Commodity Exchange in talks for merger

Posted on 25 June 2013

Merger talks have surfaced in the decade-old commodity futures market. Universal Commodity Exchange, promoted by Commex Technology, owned by IT entrepreneur Ketan Sheth, is learnt to have called on R-ADA, anchor investor through Reliance Exchange Next, in loss-making Indian Commodity Exchange (ICEX), for a possible merger, sources said.
However, the talks did not progress to a conclusive state, according to a person aware of the discussions. Ketan Sheth’s phone was switched off while Sanjay Saksena, ICEX CEO, could not be contacted immediately……………………………………….Full Article: Source


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