Patriciu: BSE should become a regional stock exchange, in order to survive

Publish date: 14-07-2009
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The Bucharest Stock Exchange (BSE) cannot survive in its present form, and the only way to develop is to become a regional stock exchange, businessman Dinu Patriciu considers.

"I believe in BSE's future, if it is smart enough to become regional and contribute to turning Bucharest into the financial centre of the region. As it is now, the BSE cannot survive. I believe the BSE has formidable advantages to become a regional Bourse," said the billionaire, invited to the opening of Monday's Stock Exchange session.

He added that the transformation of the BSE into a stock exchange that would attract companies from the whole region also depended on a series of government measures such as standardisation of the treaties on double taxation or customs. According to Patriciu, by transforming the BSE into a regional stock exchange, Romania could become the economic engine of the region. Similarly, the BSE can achieve this objective through a marketing policy aimed at attracting investors from the region to the local capital market.

"The BSE needs a market of 100 million people, not just 20 million inhabitants. The BSE can start a new life (...) I wish a long life, if it takes this road," said Patriciu.
He also said that Bucharest could become, in addition to a regional centre of the capital market, an air transport hub.

In June, Patriciu sold to KazMunaiGas (KMG) his 25% stake that he still held in the Rompetrol Group. Through this transaction, Kazakhstan's state owned company has come to fully own the oil group.

Subsequently, businessman Dinu Patriciu, owner of Rompetrol Holding of Switzerland, announced that it would change the name of the company into DP Holding, to avoid confusion with the Rompetrol Group.

Curierul National

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