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BVB - interested in taking over Slovene Stock Exchange

Bucharest Stock Exchange (BVB) director general, Stere Farmache, made this statement as of Hellenic Stock Exchange and Warsaw Polish Stock Exchange have expressed their interest in purchasing Ljubljanska Borza.

BVB has development potential, both at local and at regional level. 'We carefully evaluate the opportunities that may occur in relation to possible alliances or, why not, acquisitions,' BVB director general, Stere Farmache was quoted as saying by Reuters. He made this statement within the context of the Hellenic Stock Exchange and Polish Warsaw Stock Exchange have expressed their interest in the acquisition of the Slovene platform Ljubljanska Borza, as part of the expansion plans within Central Europe. Asked whether BVB was analyzing the option to submit a take-over offer for the Slovene stock exchange, Farmache said that 'it could be interested.' 'Bucharest Stock Exchange has development potential. It operates within a country with significant dimensions, as against other EU member states, so that its area of activity could be extended, and thus we do not exclude this option,' Farmache said. During the first month of this year, the stock exchange underwent severe corrections, being influenced by the turbulences on the international capital markets, mainly the fear of recession in the American economy. Thus, the stock exchange closed upwardly in only 7, out of 21, trading sessions. The drops resulted in reducing BVB capitalization, by RON 16.32 bln (EUR 5.78 bln), from RON 85.96 bln (EUR 24.6 bln) at the end of last year to RON 69.6 bln (EUR 18.8 bln). The Romanian capital market, affected by the tensions within the international financial sector, has an important recovery potential, since investors will be interested in the accelerated economic growth pace of Romania, Stere Farmache said. BVB official specified that 'no major fluctuations' took place at the local stock exchange in relation to the presence of foreign investors, following the movements in the capital markets worldwide, caused by the risky mortgaging lending crisis in USA (under-writing). The share of foreign investors in the Romanian stock exchange is around 45 percent. The analysts interviewed by Reuters estimate that Romanian economy advanced by 5.9 percent in 2007 and they anticipate 6 percent GDP growth for this year. Farmache affirmed that the worldwide problems resulted in preparations for initial public offers being on hold during this time period, but the listing intentions in case of minor participations of Nuclearelectrica, Cernavoda nuclear plant operator, as well in case of Hidroelectrica electricity producer, are in the process. Sursa: http://www.rompress.ro

Tags: stock exchange bvb farmache slovene interested

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