Australian stock-market operator ASX (ASX.AX) has shrugged off concerns that its $8 billion agreed takeover by the Singapore Exchange (SGXL.SI) faces defeat, saying it could overcome political opposition to complete the deal on time.

The ASX ramped up its campaign on Monday to clear the deal with Australia’s parliament, releasing a report from economic consultancy Access Economics which said the bid was in the country’s national interest.

ASX shares were trading about 16% below the value of Singapore’s offer on Monday, with investors still questioning whether the bourses can successfully navigate a string of regulatory and political hurdles.

 

ASX chief executive Robert Elstone voiced confidence the deal would survive Australia’s “national interest” test for foreign investment approval, and said he was also unperturbed by scrutiny of the deal by Australia’s competition watchdog.

 

But he said it would take until May or June 2011, at the earliest, to finalise the deal, sticking to his earlier timetable when the offer was announced in October.