Business · Markets · 16 hrs ago
Tel Aviv Stock Exchange plans to bid for Cyprus exchange
The Tel Aviv Stock Exchange plans to bid for the Cyprus Stock Exchange when the Cypriot government opens a privatization tender.
The tender preparations are nearly complete, but the process is awaiting legal approval from Attorney General George Savvides.
The Tel Aviv exchange is not the only potential bidder; Euronext and India’s National Stock Exchange are also expected to take part.
The Cyprus exchange is valued at about 20 million to 40 million euros.
Experts say the purchase could give the Israeli exchange wider, more direct access to eurozone financial markets.
They also say Israel’s financial system is seeking alternatives because some legal documents that allowed it to sell bonds in EU countries have expired and were not renewed.
The tender’s launch and outcome are still pending.
The Tel Aviv Stock Exchange plans to bid for the Cyprus Stock Exchange when Cyprus opens a privatization tender.
The tender preparations are reportedly nearing completion, pending legal approval from Cyprus Attorney General George Savvides.
Other expected bidders include Euronext and India’s National Stock Exchange.
The Cyprus Stock Exchange, based in Nicosia, is estimated to be worth between €20 million and €40 million.
Experts cited in the article say the bid could give the Israeli exchange wider and more direct access to eurozone financial markets.
- Who
- The Tel Aviv Stock Exchange, chaired by Itay Ben Zeev, plans to bid. Euronext and India’s National Stock Exchange are also expected to participate.
- What
- A planned bid to acquire the Cyprus Stock Exchange through a privatization tender.
- When
- The tender has not yet been formally launched; preparations are reportedly nearing completion.
- Where
- Cyprus, where the Cyprus Stock Exchange is based in Nicosia.
- Why
- Experts cited in the article say the bid could provide wider and more direct access to eurozone financial markets.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
This story does not have a timeline yet.
- Planned bidder
- Tel Aviv Stock Exchange
- Other expected bidders
- Euronext; India’s National Stock Exchange
- Target
- Cyprus Stock Exchange, based in Nicosia
- Estimated value
- €20 million to €40 million
- Approval pending
- Legal approval from Cyprus Attorney General George Savvides
Sources
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