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No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

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Abigail Hofman:

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Skip Navigation LinksHome :: Central and Eastern Europe :: PPF Banka to sell out stake in Prague Stock Exchange.

Tuesday, August 19, 2008

PPF Banka to sell out stake in Prague Stock Exchange.





PPF Banka to sell out stake in Prague Stock Exchange. PPF Banka is to join the group of shareholders of the Prague Stock Exchange (PSE), which are planning to sell their stakes, PPF Banka spokesperson Alexej Bechtin told M&A newswire DealWatch . PPF Banka currently holds 12.12% stake in the bourse. Brokerage firm Patria Finance with 24.85% of the shares, allegedly together with the second and fifth largest shareholders in the PSE, local lenders Ceska Sporitelna (14.67%) and Komercni Bank (11.51%), are likely to sell their stakes in the bourse. Patria Finance has earlier said it will team up with other owners to offer for sale a majority stake in the bourse. Komercni Bank also has indirect participation in PSE though the Luxembourg-based global investment company Tiger Holding Four (13.54%). If PPF Banka joins the other shareholders, the overall stake for sale in PSE will reach 76.69%. So far the shareholders have rejected several offers for acquisition or merger. The Warsaw Stock Exchange (WSE) has earlier alluded to its intentions to bid for a stake in PSE, but is not likely to be approved as potential investor as PSE shareholders are reportedly not willing to sell their stakes in the bourse to state-owned investor, while WSE is 98.8% owned by the State Treasury. Vienna Stock Exchange, Deutsche Bourse and the Scandinavian OMX Nordic Exchange have also reportedly expressed interest in PSE. There were 33 companies listed on the PSE (10 of them are foreign firms) at end-July with overall capitalisation of CZK 1,848.6bn (EUR 77.2bn).







As I seek to add some eloquence to our track record in support of our claim to be worthy winners, I can only quote Aristotle’s definition of excellence to you: ‘We are what we repeatedly do. Excellence is not an act but a habit’  

An investment banker shows off his knowledge of Greek philosophy in his attempt to win a global Award for Excellence. Unfortunately, Euromoney was unpersuaded

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