Bucharest and Sibiu Exchanges merge

Shareholders of the Exchange in Sibiu (BMFMS) approved the merger in principle with the Bucharest Stock Exchange (BSE) at the end of last week, after BSE shareholders had in their turn endorsed the merger a week before. The next step is choosing an independent evaluator, which would make assessment reports for the two markets; merger projects will be drawn up based on these reports and will then be submitted for approval to the shareholders. “The shareholders present approved unanimously the merger in principle with the Stock Exchange. The General Meeting was attended by some 70% of the shareholders with a right to vote,” stated Teodor Ancuta, chairman of the Sibiu Exchange. He believes it is possible to complete the merger between the two operators on the capital market in Romania in a few months. A week ago, Septimiu Stoica, chairman of the Stock Exchange had said that the merger could be completed within three months. ZF