The merger between the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM) has not be officially frozen, revealed informed sources, adding that talks between the two markets is still in progress and at the technical valuation stage. Neither party has informed the other of freezing negotiations, the sources added.

No fixed timeline was initially set to complete the merger as there was no pressing circumstance to complete the merger in a speedy manner, these sources revealed.

It is worth noting that a banking source in Abu Dhabi had said last week that the merger plan has been frozen. He had said that there were many points of disagreement such as valuations, the new location for the merged stock exchange’s headquarters and the formation of the Board.