December 26, 2018 / 9:52 AM / 6 months ago

Moscow Exchange likely to delay buying stake in KASE to 2019

Dec 26 (Reuters) - The Moscow Exchange is expected to postpone the acquisition of a stake in the Kazakhstan Stock Exchange (KASE) to early 2019 from this year, the bourse said on Wednesday.

It plans to buy up to 20 percent stake in KASE in two stages for about 338 million roubles ($4.88 million). The first stage was to have been completed this year.

But the Moscow Exchange press service said the deal was now likely to be postponed for technical reasons.

“It took more time to approve all the documents and make the payment,” a representative of Moscow Exchange told Reuters, adding the deal would be consummated in early 2019. ($1 = 69.2387 roubles) (Reporting by Elena Fabrichnaya in Moscow Writing by Anna Rzhevkina Editing by Mark Heinrich)

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