Polonium

Monday, November 30, 2009

Poland Halts Stock Exchange Sale to Deutsche Boerse


Nov. 30 (Bloomberg) -- Poland halted the sale of the Warsaw Stock Exchange to Deutsche Boerse AG, saying the German company failed to map out a development strategy for the bourse that produced Europe’s biggest initial public offering this year.

The government is preparing a new plan for its market operator that will involve an initial public offering instead, the Treasury Ministry, which oversees state assets, said in a statement on its Web site today.

Poland had set “tough conditions” and the German operator, Europe’s largest exchange by market value, didn’t accept them, Finance Minister Jacek Rostowski said at a news conference in Warsaw. “The priority was for any investor to pledge it would develop the Warsaw bourse as a leading market in central Europe,” the Treasury Ministry’s statement said.

http://www.bloomberg.com/apps/news?pid=20601100&sid=a5Y.E6OuIp2A