Finance Minister Felipe Larraín advanced efforts to integrate the Chilean and London stock exchanges during a recent visit to the United Kingdom. A delegation of government officials and business leaders accompanied the minister on his trip to promote foreign investment in Chile.
After a ceremony on Wednesday in which Larraín opened the London Stock Exchange (LSE) at its headquarters in Paternoster Square, Xavier Rolet, CEO of the LSE Group, spoke about Chile-London relations.
“We are delighted to welcome Felipe Larraín and the Chilean delegation to the London Stock Exchange today,” Rolet said. “We have the expertise, depth of capital and liquidity to help support the next century of Chilean growth.”
Six Chilean companies are currently listed on the LSE, representing over US$30 billion. Two of the companies, Banco de Chile and Antofagasta PLC (both of the Luksic Group), are listed on the Main Market.
Four other Chilean companies—Herencia Resources, Mariana Resources, Geopark Holdings and Metminco—are listed on the Alternative Investment Market (AIM), which is the LSE’s market for smaller, growing companies.
The LSE represents 60% of European transactions and about 30% of European stocks. According to Rolet, the plan to integrate LSE with Chile’s stock exchange (IPSA) is a long-term project, as it requires technical and regulatory changes.
If the LSE and IPSA merge, Chile could become a gateway for Peru and Colombia to trade on the London market through the Latin American Integrated Market (MILA).
MILA was formed on May 30 when Chile, Peru and Colombia combined their stock markets to compete with larger Latin markets like Mexico and Brazil.
By Erin Allen – Santiago Times
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Seems to me Chile is a 'reasonable' sort of a country. Probably got a good claim to the rest of Tierra del Fuego too. Maybe we should them get that and then see if they forge some trade links with the (eventually) independent country of Falkland!Jul 02nd, 2011 - 06:04 am 0
Sounds like an idea :-0
Now, where did Think leave that bag of nails?Jul 02nd, 2011 - 07:22 am 0
Ah! I know now where your financial toxic asset will end. Not enough with ruining Iceland, Ireland and Britain now you go for Chile?Jul 02nd, 2011 - 08:23 am 0