Vienna stock exchange – Wiener Börse (WB) – wanted to buy a 44-per-cent stake in the Bulgarian Stock Exchange – Sofia (BSE), the Viennese operator said, as quoted by Dnevnik daily newspaper on October 16.

On a global scale both stock exchanges were rather small but extremely dynamic players in their market niches. After crossing their capitals, the two would act as equal partners, said Heinrich Schaller, member of the management board of WB, as quoted by Dnevnik.

The stable structure of the owners of the Viennese stock exchange, half of which are Austrian banks and the remaining half listed companies, was able to guarantee the independence of the stock market operator, by removing the risk of selling it or transferring it to other owners, Schaller said.

Many of their partners from the financial sector had already achieved stable positions on the Bulgarian market and showed further interest towards expanding and developing the stock trade in this country. Therefore, by buying a share in the BSE, WB would make a logical step towards a closer co-operation, he said.

The management board of WB strongly believed in the principle of regional market development and equal co-operation between stock exchanges with independent management. The Viennese exchange had for many years served as a consultant on international capital market projects in Central and Eastern Europe, Schaller said.