In less than one hour of trading, 24.3 million TLV shares had been sold, with the value of the transactions amounting to €9.35 million. On the whole, on BVB’s deal market (Ed. n. – a segment on which large stock packages are traded at negotiated prices) five transactions were made with 2.3 percent of Banca Transilvania’s capital.
These transactions come after various rumors appeared on the market recently regarding a possible takeover of the lender. The TLV shares have gained over 25 percent in the past six trading sessions alone.
When contacted by Business Standard, Banca Transilvania officials said that they do not know who is behind these transactions. “We do not make due-diligence, we do not want to sell. I do not know who is behind these transactions. There is interest in several shares on the market, foreign funds have brokers on the market who ask about and analyze everything. I noticed that the SIFs [financial investment companies] and BRD have likewise risen lately,” Horia Ciorcilă, President of Banca Transilvania, said. Ciorcilă is also the bank’s most important individual shareholder, with some five percent of the shares, while Claudiu Silaghi, member of the Board of Directors, and one of the lender’s founders, owns about 2.9 percent of the bank’s shares.
