SIBEX OKs Merger With Bucharest Exchange - Sources

04.29.2011 By Florentina Dragu

Romania’s monetary and commodities exchange SIBEX has approved in principle a merger with the Bucharest stock exchange, people familiar with the matter told MEDIAFAX Friday.

Romania's monetary and commodities exchange SIBEX has approved in principle a merger with the Bucharest stock exchange, people familiar with the matter told MEDIAFAX Friday.

The merger was approved with 84% of the votes, a shareholder who wished to remain anonymous said.

The Bucharest Stock Exchange has postponed until Saturday a shareholder meeting to discuss the merger, because today's meeting was short on votes.

The two market operators have attempted merging before, but stockholders disagreed on how to convert the shares.