Soros may buy 4% in BSE for $35-40 mn

Billionaire investor George Soros is reportedly in advanced talks to buy a four per cent stake in the Bombay Stock Exchange for about $35-40 million (about Rs 185 crore).

Billionaire investor George Soros is reportedly in advanced talks to buy a four per cent stake in the Bombay Stock Exchange for about $35-40 million (about Rs 185 crore).

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UK daily Financial Times said in a report on Wednesday that Soros Fund Management is in final talks to buy Dubai Holding’s 4 per cent stake in BSE, valuing Asia’s oldest bourse at about $1 billion.

BSE Chief Executive Madhu Kannan on Wednesday declined to comment on the issue.

“I do not like to comment on this. But I can say it is a transaction independent of us,” Kannan said.

“If it happens, it will be a sign of confidence in the Bombay Stock Exchange,” he said.

Dubai Holding, the group owned by the emirate's ruler Sheikh Mohammed bin Rashid al-Maktoum, had reportedly been looking to exit the BSE.