MEXICO CITY Feb 28 Mexico's stock exchange has
agreed to buy a small stake in Lima's bourse as part of a
strategic venture to connect the two countries' capital markets,
according to a regulatory filing by the exchange on Thursday.
The two exchanges will form a "strategic association" with a
view to developing Mexico and Peru's stock and derivative
markets among other businesses, the filing said.
Mexico's Bolsa Mexicana de Valores will buy 5.9
percent of the class A shares of the Bolsa de Valores de Lima
, according to the filing.
The filing did not say how much the deal is worth and
further details were not immediately available.
The agreement will bring Mexico's stock exchange closer to
the Integrated Latin American Market (MILA) which allows
cross-border trading of companies listed in Chile, Colombia and
The head of Mexico's stock exchange Luis Tellez had said in
2011 the exchange would be interested in joining MILA.
Mexico's bourse lists some of Latin America's biggest
companies, including phone company America Movil and cement
company Cemex, but unlike regional peer Brazil, it has struggled
in recent years to attract new listings.
The Mexican exchange already has an agreement for
derivatives trading with the Chicago Mercantile Exchange
that offers Mexican investors access to CME contracts and CME
customers access to Mexican derivative contracts.
Shares in Mexico's exchange closed up 1.44 percent at 31.15
pesos ($2.44), while shares in Lima's exchange, which trade
infrequently, last closed on Feb. 22 at 10.30 Peruvian sol