Hellenic Exchanges ups CSE offer to 20 mln euros

Hellenic Exchanges (EXAE) has reportedly raised its offer to take over a soon-to-be-privatised Cyprus Stock Exchange to 20 mln euros. This is an improvement over earlier proposals that had the bid closer to 8 mln, which experts say is the value of the CSE building alone.
The Financial Mirror believes that objection to the deal rises from the potential of higher valuations, while CSE chairman George Koufaris has placed the ball in the government’s field.
A Russian financial institution is also reportedly keen to invest in the CSE operator.