MILA, the Andean exchange partnership between the Chile, Peru and Colombia bourses, has postponed the launch of joint trading, The Wall Street Journal reports. The trading has been delayed from an originally expected late January 2011 as the testing period for the combination of the three exchanges will be extended until March.
Lima Stock Exchange has ended its participation in the merger with its two South American counterparts as it waited for Peru’s government to standardize capital gains taxes at 5%. MILA, which began a test period on Nov. 22, 2010, will have a combined market capitalization of about $614 billion and 563 listed companies.
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