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Sovereign Wealth Funds Briefing - Categorized | Market, Trends

Singapore tries to quell ASX fears

Posted on 23 November 2010

From Tradingmarkets.com: Approval by the Australian Government is needed for the proposed takeover of stock exchange operator ASX by Singapore Exchange. A stake of 23% in the latter is owned by Temasek, the investment arm of the Singaporean Government, and this has sparked concern in Australia over foreign control.
Singaporean Deputy Prime Minister Tao Chee Hean, visiting Australia, has stressed that the Temasek holding is not a voting stake and should not create any barrier for the merger. A motion has been launched by independent MP Bob Katter in the federal parliament that would block any deal for ASX where majority ownership is transferred offshore……………………………………….Full Article: Source

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