Shareholders of NEX Montenegro to discuss acquisition accord in August.

By bne IntelliNews July 16, 2010
The shareholders of NEX Montenegro will discuss the draft agreement on the unification of the capital market in the country at an AGM, to be held on Aug 10. The company's BoD has already approved the draft acquisition accord, pursuant to which the bourse will merge with the other stock exchange in the country, Montenegroberza. As recalled, the owner of local financial group Atlas, Dusko Knezevic, recently told local media that all the necessary formal steps had already been completed and the unification is to become fact in 2 months at the latest. We remind that the shareholders of both stock exchanges in the country, NEX Montenegro and Montenegroberza, greenlighted the merger of the bourses at AGMs held in late January. The deal has been granted approval by the securities commission. The unification of the two exchanges became possible after domestic financial group Atlas acquired majority stakes in both bourses last November. The establishment of a single capital market in the country will decrease the operational costs of the market participants.

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