20 July 2018
Visit www.avoka.com

Vienna Stock Exchange to take over Prague bourse

07 November 2008  |  4657 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  |  5131 views  |  0 comments
Athens and Warsaw bid for Ljubljana Stock Exchange

Athens and Warsaw bid for Ljubljana Stock Exchange

08 February 2008  |  5509 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12895 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10334 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9752 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6776 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6580 views comments | 2 tweets | 7 linkedin

Featured job

Find your next job