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Monday, August 11, 2008

Warsaw bourse allegedly planning to bid for Prague peer.





Warsaw bourse allegedly planning to bid for Prague peer. The Warsaw Stock Exchange (WSE) intends to bid for the stake in the Prague Stock Exchange (PSE) that is due to be offered for sale by the Czech brokerage house Partia Finance (24.85%) and Czech banks, the Polish Press Agency reported, quoting unofficial sources. The WSE declined to comment on these prospects officially. Earlier, the WSE's CEO Ludwik Sobolewski said in a statement that he hailed the idea of opening the Prague bourse to competition. "The Warsaw Exchange believes that in Central Europe a greater openness of the markets towards competition and co-operation simultaneously is desired. We interpret the news reaching us from Prague as a step in this direction. Should such the interpretation be correct, this change is very good for the WSE," he said. According to the source, the statement should definitely be interpreted as a hint of the intention to buy into the PSE. At end-June, there were 33 companies listed on the PSE (10 of them are foreign firms), whose capitalisation equalled EUR 77bn. According to Associated Press , other potential buyers include the Vienna Stock Exchange, German stock exchange operator Deutsche Boerse, and the OMX Nordic Exchange. According to the daily Rzeczpospolita , the PSE's 85% stake to be sold could be worth EUR 100mn. At end-July, there were 366 companies listed on the WSE, with the total market capitalisation of EUR 222bn. tom







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