JPMorgan Takes Stake in Dubai Exchange

The Dubai Mercantile Exchange received another big-name investor on October 14, when US banking giant JP Morgan Chase took a minority stake in the nascent exchange. Fresh from its acquisition of deceased investment firm Bear Stearns and US bank Washington Mutual, JP Morgan will be joining its beleaguered compatriots Goldman Sachs and Morgan Stanley as a minority shareholder in the bourse. Other firms that have taken stakes in the DME since it was opened to strategic investors in early August include major energy players Vitol Group, Concord Energy and a subsidiary of Royal Dutch Shell.

To read the full article, please choose one of the following options: