Support coming from foreign investment funds, among the biggestshareholders in the Bucharest Stock Exchange (BSE), is likely tomake some shareholders' old wishes come true: the distribution ofBSE liquidities to shareholders and the selection of administratorson the basis of a cumulative vote.
At the end of last year, BSE held 63.3m lei in cash, so that thesum resulting from the share capital reduction would account formore than half of the bourse operator's liquidities.
According to some market sources, investment funds managed byFranklin Templeton and those of Austria's Erste Sparinvest, BSE'sbiggest institutional investors are among the ones behind theproposal.
The funds are also likely to propose to the BSE management thata proposal regarding the selection of managers on the basis of acumulative vote be included on the GM agenda.
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