(MENAFN) Dubai Financial Market has delayed its plan to partner the Abu Dhabi Securities Exchange (ADX) as terms for the politically sensitive move could not be agreed, according to Arab News.
A merger of the DFM and the ADX seemed to take an important step closer last year as a number of investment banks were chosen to advise on a tie-up.
The state-backed deal was expected to improve financial markets in the UAE, making it easier for investors to operate across the markets, stimulating trade and attracting more foreign investment.
However, despite a number of key impediments being overcome since then, talks have stalled and a deal is now unlikely to happen any time soon.
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