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Soros, Kaiser in race for India BSE stake: report

MUMBAI | Mon Mar 29, 2010 12:29am EDT

MUMBAI (Reuters) - Billionaire financier George Soros and philanthropist George Kaiser are in the race to buy close to 4 percent in the Bombay Stock Exchange (BSE), the Business Standard newspaper reported on Monday.

Soros has bid for the BSE stake, held by Dubai Financial Group LLC, through Soros Fund Management LLC, and Kaiser through private equity fund Argonaut, the report said.

Dubai Financial, part of sovereign fund Dubai Holding, holds 3.92 percent stake in the exchange, which it bought in 2007.

Other investors who have bid for the BSE stake include New York-based private equity firms J.C. Flowers and Caldwell Investment, the report said.

"We would not like to comment on this," a spokesman for the BSE told Reuters.

Officials at Avendus Capital, the adviser to the deal, could not be immediately reached by Reuters for comments.

(Writing by Janaki Krishnan; editing by Malini Menon)
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