WSE eyes privatization advisor in second quarter
"It all depends on the privatization process, which depends on the State Treasury," said Piotr Szeliga, executive vice president at the Warsaw Stock Exchange. But he said that should all go according to plan, he would like to see a privatization advisor chosen before the third quarter. A sale - in whatever form - would ideally be finalized by the year end, he said.
Szeliga explained that the exchange's management board recently completed a development strategy study in December with the Boston Consulting Group. The study outlines possible ways of increasing the exchange's viability, mainly through privatization and linking up with other European peer exchanges.
"From the point of view of the management board, the [privatization] process should be a joint effort," Szeliga said. He said that the management board would discuss a twofold plan with the exchange's supervisory board and the State Treasury. It would include a privatization scheme, such as deciding whether to list the shares on the WSE or to seek a strategic investor. At the same time, he pointed out that he would urge dialogue regarding the WSE's merger strategy. The management board recommends a merger - in terms of capital as well as cooperation - with any of the following four European stock exchange entities: the Deutsche Boerse, the London Stock Exchange, Euronext and HEX.
Such a strategy, he said, would aid both the WSE and the growing body of investors in Poland.
"This is not a goal in itself, but an instrument to better the exchange," he said.
He did not comment on any likely candidates for the position of WSE advisor.
Szeliga explained that the exchange's management board recently completed a development strategy study in December with the Boston Consulting Group. The study outlines possible ways of increasing the exchange's viability, mainly through privatization and linking up with other European peer exchanges.
"From the point of view of the management board, the [privatization] process should be a joint effort," Szeliga said. He said that the management board would discuss a twofold plan with the exchange's supervisory board and the State Treasury. It would include a privatization scheme, such as deciding whether to list the shares on the WSE or to seek a strategic investor. At the same time, he pointed out that he would urge dialogue regarding the WSE's merger strategy. The management board recommends a merger - in terms of capital as well as cooperation - with any of the following four European stock exchange entities: the Deutsche Boerse, the London Stock Exchange, Euronext and HEX.
Such a strategy, he said, would aid both the WSE and the growing body of investors in Poland.
"This is not a goal in itself, but an instrument to better the exchange," he said.
He did not comment on any likely candidates for the position of WSE advisor.
