23 October 2017
Register now

Vienna Stock Exchange to take over Prague bourse

07 November 2008  |  4566 views  |  0 stock quotes

The Vienna Stock Exchange has acquired a 92.4% stake in the Prague Stock Exchange, seeing off an unwelcome approach from rival suitor the Warsaw Stock Exchange.

The acquisitive Vienna SE first signalled its agreement to take a controlling interest in the neighbouring Prague exchange last month. Terms of the deal have not been disclosed.

The Warsaw bourse was believed to be ready to offer EUR100 million for a controlling stake, although its approaches were rebuffed by Prague which feared a loss of independence under Polish control.

Michael Buhl, CEO of the Vienna Stock Exchange, comments: "We view ourselves as a long-term investor driven by the spirit of partnership and will be agreeing the specifics of this new partnership together with the management of the Prague Stock Exchange in the coming weeks and months."

The deal is subject to regulatory approval.

Upon completion, the Vienna Stock Exchange will become the majority owner of three stock exchanges in Central and Eastern Europe. Oesterreichische Kontrollbank and the Vienna Stock Exchange (50.4%) jointly own 68.8% of the Budapest Stock Exchange. In June of this year, the Vienna Stock Exchange acquired a majority stake of 81.01% in the Ljubljana Stock Exchange.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Vienna takes Slovenian exchange

Vienna takes Slovenian exchange

20 June 2008  |  5026 views  |  0 comments
Athens and Warsaw bid for Ljubljana Stock Exchange

Athens and Warsaw bid for Ljubljana Stock Exchange

08 February 2008  |  5406 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.atos.netvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15572 views comments | 17 tweets | 30 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13653 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10048 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9956 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8951 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job