Billionaire George Soro in talks to buy stake in Bombay Stock Exchange

London: Billionaire financier George Soros is in late stage talks to buy a 4 per cent stake in the Bombay Stock Exchange (BSE), the Financial Times reported on Wednesday.

Citing a person involved in the negotiations, the newspaper said Soros Fund Management plans to buy Dubai Holding's stake for about $40 million, valuing the bourse at $1 billion.

Soros' entry into the BSE comes amid signs of a rift between the Bombay stock market and the Singapore Stock Exchange, which is one of its shareholders and has recently given up its board seat, people close to the situation told the FT.

Soros Fund Management and Dubai Holding could not immediately be reached for comment.