NYSE to buy 5pct in Indian commodity exchange-paper

MUMBAI, Feb 15 (Reuters) - The New York Stock Exchange is set to buy a 5 percent holding in India's largest commodities bourse for an undisclosed amount, the Economic Times newspaper said in an unsourced report on Friday.

A spokesman for the Multi Commodity Exchange (MCX) could not be immediately reached for comment, but the top bourse has scheduled a news conference at 11:30 a.m. (0600 GMT) to make a "strategic global announcement".

In January, the government had allowed foreign companies, funds and exchanges to acquire up to 49 percent of a commodity bourse, but with single holdings capped at 5 percent.

Financial Technologies India Ltd (FITE.BO: Quote, Profile, Research, Stock Buzz), which controls the MCX, last year sold 5 percent stake each to Citigroup (C.N: Quote, Profile, Research, Stock Buzz) and Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz), valuing the exchange at up to $1.1 billion.

India has three main commodity exchanges with a combined daily turnover of up to 200 billion rupees ($5 billion). ($1 = 39.6 rupees) (Reporting by Hiral Vora; Editing by Ranjit Gangadharan)