Europe's merging markets
Last week the European Commission gave the go-ahead for a consortium led by Wiener Börse, the operator of the Vienna Stock Exchange (VSE), and HVB Bank Hungary to increase their stake in the Budapest Stock Exchange (BSE) to nearly 69 percent.
However, Attila Szalay-Berzeviczy, chairman of the BSE, said: "As long as I preside over this stock exchange there will be no merger with Vienna."
The bourses are hoping they can build a partnership of Central and Eastern European exchanges that would fall short of a merger, but still boost trading volumes and increase efficiency in the face of strong competition from Western European markets.
"The next task is to bring new pillars into the Vienna-Budapest alliance. Warsaw, Prague, Bratislava and Ljubljana are options," Szalay-Berzeviczy said. (Reuters)
A.K.
However, Attila Szalay-Berzeviczy, chairman of the BSE, said: "As long as I preside over this stock exchange there will be no merger with Vienna."
The bourses are hoping they can build a partnership of Central and Eastern European exchanges that would fall short of a merger, but still boost trading volumes and increase efficiency in the face of strong competition from Western European markets.
"The next task is to bring new pillars into the Vienna-Budapest alliance. Warsaw, Prague, Bratislava and Ljubljana are options," Szalay-Berzeviczy said. (Reuters)
A.K.
