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Deutsche Boerse, two others bid for Warsaw bourse



06 November 2009 @ 12:23 pm ET

WARSAW - Poland said on Friday it had received three offers for its stake in the Warsaw Stock Exchange.


Deutsche Boerse, two others bid for Warsaw bourse
Reto Francioni, CEO of Deutsche Boerse AG (German stock exchange) looks down from a gallery on the trading floor of the German stock exchange in Frankfurt, October 15, 2008. European shares headed lower on Wednesday to break a two-day winning streak as the euphoria over bold government action to arrest a financial sector meltdown dissipated and recession fears took centre stage. (Reuters Photo / Kai Pfaffenbach)
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A Treasury Ministry spokesman said it had received three bids before the Friday afternoon deadline, but would not name the interested parties and declined to elaborate.

Deutsche Boerse said earlier on Friday that it had placed a binding bid for the Polish operator.

NYSE Euronext and Nasdaq OMX are the other two shortlisted bidders that remained along with the German operator after London Stock Exchange walked away from the tender last month.

Neither NYSE Euronext nor Nasdaq OMX was immediately available for comment.

Poland wants to sell between 51 and 73.8 percent of the exchange.

"In our offer we emphasize that Deutsche Boerse wants to fully support the Treasury Ministry's actions to strengthen Warsaw Bourse's position as a leading financial market in central eastern Europe," Deutsche Boerse Senior Vice President Jochen Biedermann said in a statement.

The Warsaw bourse has build a strong position in the region, outdistancing rival Wiener Boerse in terms of the valuation of its listed companies.

With a boost from the addition of Poland's top utility PGE PGEPa.WA on Friday following Europe's largest initial public offer this year, the combined value of the 376 companies listed in Warsaw stood at some $245 billion.

(Reporting by Agnieszka Barteczko in Warsaw and Jonathan Spicer in New York; writing by Chris Borowski, editing by Will Waterman and Karen Foster)

Copyright 2009 Thomson Reuters. All rights reserved.

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