WSE offer for Tel Aviv bourse refused after Holocaust raw

According to Rzeczpospolita daily, the Warsaw Stock Exchange offer for the Tel Aviv Stock Exchange has not been shortlisted for the next round of negotiations following a diplomatic row over Poland’s new law on the Holocaust. WSE was invited to bid on the 72 percent stake in the Tel Aviv Stock Exchange. The value of the transaction is estimated at some PLN 490 million. WSE confirmed that, along with the state-run Polish Development Fund, it had filed a non-binding offer. Over ten international stock exchanges submitted their bids Despite WSE offer being high compared to others, the Tel Aviv bourse decided against continuing the negotiations, according to the media it was due to the recent Polish law which makes it a criminal offense to suggest Poland was complicit in the Holocaust. “We are awaiting an official response from TASE,” WSE said, while TASE declined to comment on the matter.