Australian bourse operator ASX says it continues to believe in the business logic of a proposed $7.6 billion takeover by Singapore rival SGX and also sees a need to take part in global bourse consolidation. The ASX made the comments in a letter to shareholders released Thursday as it ramps up lobbying efforts to try to overcome political opposition to the deal, which comes amid a wave of bourse consolidation globally. ASX shares, which fell earlier this week on media reports that the government was set to reject the merger, edged up 0.3 percent to A$34.64 at 0310 GMT. SGX shares were down 0.32 percent in late afternoon trade.
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