Colombia Approves Stock Market Merger With Peru, Chile

first_img Colombia on 5 November approved merging its stock market with those of neighboring Peru and Chile, which experts said will become the second-biggest stock market in Latin America after Brazil’s. Colombian President Juan Manuel Santos and his Economy Minister Juan Carlos Echeverry “signed the decree authorizing the merger,” a statement by the president’s office said. Representatives from the stock markets and central banks of the three nations will meet next week in Bogota to launch the new stock market, it added. A meeting of financial experts headed by Spain’s BBVA Bank said the new stock market will boost overall trading in the three countries anywhere from three to five times the current volume. “That would make this stock market the second-largest in Latin America after Brazil’s,” BBVA said in a statement. By Dialogo November 10, 2010last_img read more