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-Russian stock exchange hires banks.

Global Banking News-December 15, 2010--Russian stock exchange hires banks(C)2010 ENPublishing -

Global Banking News - 15 December 2010(c)2005 - Electronic News Publishing -

The Russian stock exchange, MICEX, has announced that it has hired foreign banks to value its rival, RTS.

Switzerland-based Credit Suisse (CSGN.VX) and US-based Morgan Stanley (NYSE: MS) were hired by the stock exchange to assess the value of RTS as there is a possibility that both the bourses may merge. Even though the two entities were holding off talks on a possible merger, there are many who feel that a merger could strengthen the region's status as a financial centre.

MICEX board director and a member of the central bank board, Sergein Shvetsov, said, 'We are not yet at the point (of agreement) on price conditions. When the valuation is finished, we will be offered to consider it. Credit Suisse and Morgan Stanley are maintaining it (valuation). The process is at an early stage. The parties are trying to determine the advantages and disadvantages of such decision.'

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Date:Dec 15, 2010
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