THE DISTILLERY: Singapore blues

One commentator sees new reasons for Singapore Exchange to rue its missed tie-up with the ASX.

Too often, when a merger or acquisition hits a wall, it’s largely forgotten. This is particularly unfortunate when a regulator is the opposing force because it prevents scrutiny of their decision, and whether it was in fact justified. Fairfax’s Ian McIlwraith has kept a close eye on Singapore Exchange after Treasurer Wayne Swan said it could not merge with our own bourse, ASX Ltd, due to concerns about how Singapore's government might then influence Australian markets. Its terribly disappointing performance since Swan’s intervention is unquestionably a dodged bullet, but as McIlwraith explains, the Treasurer didn't reject the deal because he sensed coming weakness in the suitor's stock. Meanwhile, one commentator puts a bullet into the idea of a special, NBN-inspired dividend from Telstra, while another highlights a contradiction in Malcolm Turnbull’s argument against 100 Mbps.


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