Australia says no to bourse buyout offer

Saturday 09 April 2011 00:00 BST

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Australia has rejected the Singapore stock exchange's $8.3bn (£5bn) takeover bid for the Australian stock market operator, saying the merger would not be in the nation's interest.

The proposal would have created one of Asia's leading stock markets but politicians had worried about Singapore's human rights record and whether Australia would benefit from a bourse based overseas.

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Australia says no to bourse buyout offer

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