Tel Aviv Stock Exchange considers bid for Cyprus Stock Exchange

The Tel Aviv Stock Exchange (TASE) is currently evaluating a potential bid for the Cyprus Stock Exchange (CSE) as the Republic of Cyprus prepares for its official privatization process. According to reports from the Israeli financial newspaper Calcalist and other local media, the move is driven by a strategic interest to secure a foothold within the European Union and the eurozone. While no final decision has been reached by the TASE board or management, the organization is expected to participate in the international tender once the official terms and conditions are published.

The valuation of the Cyprus Stock Exchange is estimated to be between 20 million and 40 million euros, with annual revenues ranging from 4 million to 7 million euros. Under the proposed framework, the successful bidder will be selected based on a scoring system where 70% of the weight is placed on the financial offer and 30% on qualitative criteria, including business development plans and technical infrastructure. The tender, which has already received legislative approval from the Cypriot Parliament, is nearing its final stage, pending formal approval from Attorney-General George Savvides. In addition to potential interest from the TASE, reports indicate that other entities, including the Athens Stock Exchange, have shown interest in the privatization.