Russia's MICEX stock exchange has agreed in principle to buy a controlling stake in RTS, the country's other major trading floor, the first deputy chairman of Russia's Central Bank said on Tuesday.
Alexei Ulyukayev said the deal valued MICEX at $3.45 billion and RTS at $1.15 billion.
The merger, which has been pushed through by President Dmitry Medvedev as part of moves to turn Moscow into an international financial center, is to be completed before mid-April, Ulyukayev said.
On January 20, Medvedev ordered the Central Bank to sell its 29.8% stake in MICEX, where the bulk of the country's share trading is concentrated.
