WSE president Wieslaw Rozlucki says alliance with Euronext best alternative

According to Warsaw Stock Exchange (WSE) head Wieslaw Rozlucki, the most beneficial way of advancing the Warsaw bourse's development would be through the establishment of a strategic alliance with Euronext, the common exchange established by the Paris, Brussels and Amsterdam bourses. Rozlucki said that talks between WSE and Euronext on possible cooperation should be completed by 2002, while the WSE is seeking to submit a detailed privatization plan to the supervisory board by the end of the first half of 2001. Currently, both the heads of the WSE board and the Securities and Exchange Commission (KPWiG) are wary about the alliance. "It is hard to give the idea serious consideration, because we still don't know all the details," said the head of KPWiG, Jacek Socha. For the WSE, the alternative to linking up with Euronext would be an alliance with Norex, the Scandinavian joint undertaking between the Stockholm, Copenhagen and Oslo exchanges. (Parkiet, p.1)