BSE shareholders approve BSE-USE merger

Shareholders of the BSE have given their approval for the merger between United Stock Exchange of India (USE) and the BSE. The approval by shareholders was given at a Court Convened Meeting of teh equity shareholders of the BSE held on Monday, October 20.

A news release from the BSE said that the BSE and USE will now be filing necessary petitions before the Bombay High Court seeking its sanction for the merger.

The Competition Commission of India (CCI) and market regulators, Sebi, have already given their approval to the merger through orders passed earlier this year on July 30 and August 21, respectively.

BSE announced its intention to merge USE with itself in May this year. BSE held around 15 per cent stake in USE, which was established in 2010.