Will Helsinki Stock Exchange acquire the Warsaw Stock Exchange?

The owner of the Helsinki bourse (HEX) said on Monday it was open to a merger with the Warsaw Stock Exchange, as part of its strategy to tighten its grip over exchanges in the Baltic region. HEX Chief Executive, Jukka Ruuska, told Reuters in an interview that while his company was not currently in talks with other exchanges on merging, "Consolidation is something we are open to". HEX's market capitalization is roughly euro128 billion, which is over five times that of the WSE. A combined entity with the WSE would create the third largest exchange in the Baltic region and would also mark another move by HEX in its efforts to create a rival to the Norex alliance led by Stockholm's OM Group, which includes the Danish, Norwegian and Icelandic exchanges. HEX already has controlling stakes in the exchanges of Estonia and Latvia and the fact that the state-owned WSE has been on the lookout for partners could indicate that such a tie up cannot be totally excluded. (Reuters)