“We must not neglect the globalization trend in Europe. We are aiming for stock market development and provided the participation of a foreign bourse targets market development, that operator may own as much capital as it wants of Romania’s operator, Anghelache added.
Current legislation says no operator may have in excess of 5 percent of voting rights, directly or indirectly, in a Romanian bourse. The Finance and Economy Ministry this year drafted legislation saying that foreign stock market operators may own more than 5 percent of a Romanian bourse. CNVM only agrees with participation increase, but not voting rights.
