Stock Market Operator Boss Says New Owner to Take Over in July

Date: 05/16/2008
Category: Latest news

Ljubljana, 16 May (STA) - Marko Simoneti, the boss of Ljubljana Stock Exchange operator Ljubljanska borza, told the press on Friday that the company was likely to get a new owner in July. Saying that Ljubljanska borza had no contacts with the two remaining bidders, Simoneti added that the new owner would have to abide by some rules.

Simoneti said the seat of the Ljubljanska borza would have to remain in Ljubljana for at least ten years, the new owner would have to take care for the development of the market, refrain from changing the price list and not offload the cost of introduction of new technologies on the stock market members. Simoneti failed to say which of the two bidders - Greek Hellenic Exchanges and Austria's Wiener Boerse - would be a better purchaser of the market. He said that both bidders agree with the demands of the current owners of the Ljubljanska borza and offer development opportunities for the sole Slovenian stock market operator. A consortium of owners of Ljubljanska borza picked in mid-April the two top bidders that remain in the game for the purchase of a 81.01% stake in the stock market operator. The stock market is also gearing up to introduce new rules on 24 May. The rules will bring the stock market in line with the existing legislation and abolish the current official and free markets. Trading will be from 24 May onwards carried out on markets for shares, bonds, investment coupons, investment firm shares and structured products.