Germany’s Deutsche Börse has agreed to pay Rs1.89bn ($43m) for a 5 per cent stake in the Bombay Stock Exchange in the second such acquisition by an international stock market in India this year.

The move, part of a wave of consolidation among the world’s stock exchanges, comes as the BSE is planning to sell a further 21 per cent to private equity funds, Indian television channel CNBC-TV18 reported.