Treasurer Wayne Swan has officially rejected the $8 billion takeover of ASX Ltd (ASX:ASX) by Singapore Exchange.
Mr Swan said his decision was based on grounds of national interest. The Treasurer said he had received advice from the Foreign Investment Review Board.
He added that the deal would not provide greater access to global capital markets or provide a gateway to Asian capital flows.
He has referred the issues to the Council of Financial Regulators for urgent advice.
In the six months to 31 December 2010 ASX Ltd generated a $172 million net profit.
