Vienna Stock Exchange CEO considers BVB too expensive but is interested to buy

He said that WBAG is focused on the Slovenian Stock Exchange at the moment, but the Bucharest market is very interesting, and WBAG would be glad to own shares.

Until now, WBAG has acquired 68.58 percent of Budapest Stock Exchange shares, with a consortium of Austrian banks. WBAG has a series of cooperation agreements with other stock exchanges in Central and Eastern Europe.

Buhl said that the value of a stock exchange is some 12 times higher than the gross profit of earnings before interest and taxes (EBIT). According to this indicator, BVB is worth some €112.13 million, 45 percent under its current value. “If the price is right, we are interested in any stock exchange in the region. Concerning BVB, I can say that at this point it is a bit expensive, because if we look at listed exchanges we can see that their market value is some 12 times EBIT” Buhl said.

However, Buhl added that Romania has the necessary foundation to continue its activity without being taken over by another stock exchange.