However, the battle for lifting the ownership threshold continues, considering that both SIF Transylvania and Catalin Chelu are preparing new lawsuits, which will end up in the Constitutional Court, and lawmakers will decide this fall whether or not the one percent threshold is eliminated.
Contacted by Business Standard, lawyers specializing in the equities market said that a different decision by the Constitutional Court, in a lawsuit which attacks the same issue, is unlikely.
The five SIFs were suspended from trading for two hours yesterday. When they reentered the market, at 15:35, the BET-FI index gained 0.25 percent. “I do not know how many investors bought SIF shares while waiting for this decision by the Constitutional Court. The impact will be limited. But it remains to be seen what the Parliament will decide this fall,” the Head of Equities Market within ING Bank Romania, Florin Ilie, said.
