The Vienna Stock Exchange has acquired a 81.01% stake in the Ljubljana Stock Exchange after beating offers for the Slovenian bourse from other market operators including Hellenic Exchanges, Warsaw Stock Exchange and OMX.
It was reported earlier this week that Vienna and Greece's Hellenic Exchanges were the final two offers on the table for the Ljubljana exchange, which is being sold by a group of shareholders.
In a short statement, Hellenic Exchanges confirms that it made a binding offer for the acquisition of the Slovenian exchange, but says its bid was not the highest put forward.
A previous bid for the Ljubljana exchange from Poland's Warsaw Stock Exchange was turned down earlier this year, while a EUR4.2 million offer from OMX was rejected by shareholders last year.
In a statement the Vienna exchange says the acquisition reinforces "its goal of strengthening Central and Eastern Europe's capital market".
"As the new majority shareholder, we will be working actively to support the progress of our neighbouring stock market," says Heinrich Schaller, CEO, Vienna Stock Exchange. "The Vienna Stock Exchange considers itself a long-term investor and together we will focus mainly on the areas of products, data vending and indices."
Earlier this month the Vienna Stock Exchange increased its shareholding in the Budapest Stock Exchange from 12.5% to 37.7% after buying a stake in the Hungarian exchange from UniCredit Bank Hungary Zrt.