Bourses to Merge Soon and Float Before 2014

The MICEX and RTS stock exchanges are likely to finalize their $4.8 billion merger in the coming days with the goal of floating the joint company in an IPO before 2014. The move is a boost to Moscow’s ambition to become an international financial center and reduce capital outflows — estimated at about $60 billion in the last two quarters. The president of MICEX, Ruben Aganbegyan, told the Renaissance Capital investor conference […]