Three Chinese exchanges eye 40 percent stake in Pakistani bourse

Three of China's financial market operators intend to buy jointly a combined stake of up to 40 percent in the Pakistan Stock Exchange (PSX), a person with close knowledge of the potential deal told China Daily.

The source, who is with the Shanghai Stock Exchange, said the SSE and two other bourses in China have submitted a letter of intent to the PSX, the source said.

Reuters reported in early October that the SSE had submitted a letter of intent to buy the stake in the PSX, after the latter reached out to some bourses seeking strategic investors in July.