By Joe Leahy in Mumbai and Ivar Simensen in Frankfurt
Thursday, February 15, 2007
 
Germany's Deutsche Börse has agreed to pay Rs1.89bn ($43m) for a 5 per cent interest in the Bombay Stock Exchange in the second such deal by an international stock market in India this year.

The investment – the first of its kind by Deutsche Börse in Asia – could be the initial step towards an alliance among Asian bourses led by the two exchanges, Rajnikant Patel, the BSE's chief executive officer, said.

The deal, which values India's number two exchange at $854m, follows NYSE Group's acquisition of 5 per cent of India's National Stock Exchange, the country's biggest market, in January for $115m.

 http://www.ftchinese.com/sc/story_english.jsp?id=001009653