VIENNA: The Vienna and Warsaw stock exchanges said yesterday that they were in “preliminary” talks about a tie-up, in the latest attempt at consolidation in the sector.
The Warsaw Stock Exchange (WSE) and the Central and Eastern Europe Stock Exchange Group (CEESEG) said they “have started preliminary discussions with a view to consider potential ways of strengthening mutual cooperation.”
A short joint statement added: “At this stage all strategic options and cooperation routes are being reviewed.”
CEESEG also comprises the Budapest, Ljubljana and Prague stock exchanges and was formed after Wiener Boerse, the operator of the Vienna stock exchange, bought majority stakes in the companies operating the other three.
It is now the largest stock exchange group in the Central and Eastern European region, and also cooperates with other bourses in the region. Yesterday’s announcement follows attempts dating back several years by the operators of stock exchanges to join forces in an effort to save money and boost profits — but amid stiff resistance from regulators.
In 2007 the New York Stock Exchange and Euronext became one, and the new company then tried to merge with Germany’s Deutsche Boerse, but creating the giant was blocked by the European Commission in 2012.
NYSE Euronext agreed last December to be bought by InterContinentalExchange (ICE) in a $8.2bn deal that would create the world’s biggest market operator.
AFP
