Despite Dubai Financial Group calling off its plans to sell stake in the Bombay Stock Exchange (BSE), Toronto-based investment broker Thomas Caldwell and philanthropist George Kaiser have managed to acquire shares in Asia’s oldest bourse. Over the past few months, Kaiser has acquired over 3 per cent in BSE, while Caldwell has increased his shareholding from 3.8 per cent last year to 4.25 per cent through multiple private deals, exchange officials said. They said the shares had been purchased from brokers, as well as some of the institutional investors in BSE. Along with US hedge fund legend George Soros and private equity firm J C Flowers, Caldwell and Kaiser were in the race to buy Dubai Financial Group LLC’s four per cent stake in BSE. Kaiser, through his private equity firm, Argonaut, was the highest bidder and had offered to pay Rs 370 a share. But, looking at the rush, embattled Dubai Financial deferred its stake sale plans in anticipation of higher valuations in the future, said a deal maker.   more »