JSE Ltd, the South African stock exchange operator, is planning to extend its footprint across the sea, with news that it is in talks to buy a stake in the Mauritius Stock Exchange.

In an interview with Reuters, JSE deputy chief executive Nicky Newton-King, said that talks between the two parties were still at an early stage.

"We have in principle been looking at doing something. The deal is still in very preliminary stages further to regulatory approval," she said, adding "We have been talking to Mauritius for some time."

The South African stock exchange group launched the JSE Africa Board last month, which is designed as a means of African companies taking a secondary listing on the JSE board.

Newspaper speculation in Mauritius reported that the JSE has agreed to snap up a 49% stake in the Mauritius Stock Exchange for 367.5-million rupees.