Warsaw Stock Exchange Privatisation: Government Raises Its Game

The sale of a majority stake in the Warsaw stock exchange (WSE) is the flagship of Poland's privatisation programme. This means that if the deal goes sour, the Polish government will experience a very public defeat ahead of next year's elections. So far, so good: Deutsche Borse has submitted a binding bid for the exchange, although the fact that is was the only bourse to do so was not a positive signal. Yet it seems that the sole bid has not reduced the Polish government's hubris nor its expectations from the

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