State May Merge RTS and MICEX

The government may merge the country's stock exchanges and sell shares in the new company to the public, Vedomosti reported Thursday, citing the market regulator.

The Federal Service for Financial Markets wants to create a holding for the exchanges -- the ruble-denominated MICEX and the dollar-denominated RTS -- by 2010, the newspaper said, citing internal documents.

The service will submit its plan to the government for approval in May, Vedomosti said.

The combined company may hold an initial public offering in Russia after 2011 and offer shares to foreigners between 2013 and 2015, the newspaper reported.