(Vienna/Prague) The Vienna Stock Exchange today announces that it has acquired a 92.4% stake in the Prague Stock Exchange and – subject to the approval of the relevant authorities – consequently becomes the new majority shareholder. “We view ourselves as a long-term investor driven by the spirit of partnership and will be agreeing the specifics of this new partnership together with the management of the Prague Stock Exchange in the coming weeks and months,” stated Michael Buhl, CEO of the Vienna Stock Exchange.
The Prague Stock Exchange is one of the largest exchanges in Central and Eastern Europe. As of the end of September 2008, there were 29 companies listed on the exchange and total market capitalization was almost EUR 40bn. Average monthly trading volumes year-to-date is EUR 2.77bn (single count).
The acquisition of this stake in the Prague Stock Exchange means that the Vienna Stock Exchange is now the majority owner of three stock exchanges in Central and Eastern Europe. Oesterreichische Kontrollbank and the Vienna Stock Exchange (50.4%) jointly own 68.8% of the Budapest Stock Exchange. In June of this year, the Vienna Stock Exchange acquired a majority stake of 81.01% in the Ljubljana Stock Exchange. In addition, the Vienna Stock Exchange cooperates closely – without any cross-holdings – with many other stock exchanges in the region, mainly with Bucharest, Sarajevo and Banja Luka.