FRANKFURT, Nov 28 (Reuters) - Deutsche Boerse said on Saturday it would not increase its bid for a controlling stake in the Warsaw Boerse after the Polish government requested an improved offer for the exchange.
Deutsche Boerse said in a statement it had 'submitted a bid based on a fair market value and a clear assignment of competency', and that it was declining to amend its offer.
Deutsche Boerse did not release the value of the bid.
Polish media reports said last week that Warsaw had requested a higher offer for the Boerse, which included demands for more clarity on how the exchange's infrastructure could be boosted.
In a pre-release from a report in the Frankfurter Allgemeine Sonntagszeitung, the newspaper cited unnamed financial sources as saying that Deutsche Boerse could break off talks on the sale.
The newspaper cited unnamed members of the Polish government valuing the entire exchange at more than 1 billion euros ($1.49 billion).
Deutsche Boerse was the sole remaining bidder looking for a controlling stake in the state-owned Warsaw bourse after three market operators --NYSE Euronext and Nasdaq OMX and the London Stock Exchange -- pulled out of the running.
The Polish state wants to sell between 51 and 73.8 percent of the exchange whose combined market capitalisation stands at some $235 billion.
The Warsaw bourse has built a strong position in the region, outdistancing rival Wiener Boerse in terms of the valuation of its listed companies.
(Reporting by Tyler Sitte, editing by Mike Peacock) ($1=.6699 Euro) Keywords: DEUTSCHEBOERSE/WARSAW (Tyler Sitte@thomsonreuters.com; +49 7565 1207; Reuters Messaging: tyler.sitte.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Deutsche Boerse said in a statement it had 'submitted a bid based on a fair market value and a clear assignment of competency', and that it was declining to amend its offer.
Deutsche Boerse did not release the value of the bid.
Polish media reports said last week that Warsaw had requested a higher offer for the Boerse, which included demands for more clarity on how the exchange's infrastructure could be boosted.
In a pre-release from a report in the Frankfurter Allgemeine Sonntagszeitung, the newspaper cited unnamed financial sources as saying that Deutsche Boerse could break off talks on the sale.
The newspaper cited unnamed members of the Polish government valuing the entire exchange at more than 1 billion euros ($1.49 billion).
Deutsche Boerse was the sole remaining bidder looking for a controlling stake in the state-owned Warsaw bourse after three market operators --NYSE Euronext and Nasdaq OMX and the London Stock Exchange -- pulled out of the running.
The Polish state wants to sell between 51 and 73.8 percent of the exchange whose combined market capitalisation stands at some $235 billion.
The Warsaw bourse has built a strong position in the region, outdistancing rival Wiener Boerse in terms of the valuation of its listed companies.
(Reporting by Tyler Sitte, editing by Mike Peacock) ($1=.6699 Euro) Keywords: DEUTSCHEBOERSE/WARSAW (Tyler Sitte@thomsonreuters.com; +49 7565 1207; Reuters Messaging: tyler.sitte.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.