Warsaw bourse wants to become regional leader after merger with CEESEG
January 17, 2014
WSE CEO Adam Maciejewski
Warsaw Stock Exchange hopes to conclude merger with CEE Stock Exchange Group (CEESEG) as it wants to secure a "dominant" role in CEE and a "significant" role in European trading, the bourse's operator GPW said in a press statement on Thursday.
CEESEG consists of the four stock exchanges: the Vienna bourse and smaller exchanges in Budapest, Ljubljana and Prague.
"The chief strategic goal of the Warsaw Stock Exchange for 2014-2020 is to achieve a dominating role in the Central and Eastern Europe region and a significant role in Europe either independently or via partner alliance or merger with a large industry entity," the statement said.
The strategy is based largely on further pressing current growth drivers and deepening the "diversification and internationalization of revenues."
The possible merger with CEESEG could be accompanied by a share issue by the GWP, GPW CEO Adam Maciejewski said at a conference presenting WSE strategy for years 2014-2020.
"If we realize a merger with CEESEG, one should expect an issue," Maciejewski said.
Maciejewski said he hopes the transaction could take place this year.
"I would wish that this transaction is realized this year," Maciejewski told reporters. "I do not know if this will be the case, because it is not a decision of the management."
Other investment projects currently considered by GPW could be financed from own means, the CEO also said.