- 06 Nov 2009 at 9:32 AM
When your dreams of expansion have been rebuffed at just about every turn for a decade, it forces you to think outside the box. So goodbye, London, Paris and Amsterdam: Deutsche Börse is (trying) to go to Warsaw.
Seventy years after a very special moment in German-Polish relations, the owner of the Frankfurt Stock Exchange is bidding for what locals affectionately refer to as the Giełda Papierów Wartościowych w Warszawie. The other other DB hopes to buy a majority stake in the bourse from its current majority owner, a widely-respected exchange operator called the Polish government.
Deutsche Börse thinks the Warsaw exchange is an “attractive investment.” Maybe it is. Maybe anything looks good after you’ve been humiliated in your attempt to buy the London Stock Exchange and bested by those Wall Street bastards in bidding for Euronext.
Jochen Biedermann, he who holds the unenviable job of “head of Eastern European business” at Deutsche Börse said he likes the cash and derivatives trading a Warsaw foothold would offer. He ominously adds, “We also have our own ideas about new products. And Lebensraum.
There remains, however, the chance that the Germans will once again be stymied. While the one that got away, the LSE, doesn’t plan on making an offer, Deutsche Börse’s bête noir, NYSE Euronext, and Nasdaq OMX have both been invited to make Poland an offer.
Deutsche Börse Makes Bid for Warsaw Stock Exchange [WSJ]
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- Bess Levin
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