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BSE and Sibex in merger talks again

Autor: Adrian Cojocar

23.01.2011, 23:41 59

The main players on the Romanian capital market, including therepresentatives of CNVM, of SIFs and the leaders of the two Bourseoperators, the BSE and Sibex, met in Predeal during the weekend anddecided to resume the merging process.

The BSE-Sibex merger project, relinquished in 2006, was againincluded on the two market operators' agenda early last year, afterBSE management was changed. Though everybody on the market isspeaking about the need for Romania to have a single capitalmarket, a sounder one, the completion of the merger primarilydepends on the price the two sides will agree on.

Merger supporters include Daniel Ţepeş and most members of BSE'scurrent board, who ahead of the Bourse's listing owned significantstakes in both companies. Also, SIFs have an important say, afterhaving purchased large stakes over the past year.

Brokers say they do not see the logic of keeping two tradingsystems operational and the institutions related to each of them.

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