March 9, 2018 / 5:25 PM / 2 years ago

Polish bid for Tel Aviv bourse not shortlisted after Holocaust law row: paper

FILE PHOTO: An electronic board displaying market data is seen at the entrance of the Tel Aviv Stock Exchange, in Tel Aviv, Israel January 29, 2017. REUTERS/Baz Ratner

WARSAW (Reuters) - The Warsaw bourse, GPW (GPW.WA), has failed to make a shortlist of bidders for the Tel Aviv Stock Exchange following a diplomatic row over Poland’s new law on the Holocaust, a Polish newspaper reported.

GPW, together with Polish state fund PFR, was one of more than 10 foreign stock exchanges that showed interest in buying a controlling 71.7 percent stake in the Tel Aviv bourse (TASE), which was demutualized last September to become a for-profit exchange.

Business daily Parkiet, citing sources close to the Israeli government, said the recent crisis in diplomatic relations after Poland enforced a law making it a criminal offense to suggest Poland was complicit in the Holocaust, was the reason why the GPW bid would not be considered.

“We are awaiting an official response from TASE,” GPW said in an emailed response to Reuters when asked to comment.

A spokeswoman for TASE declined to comment when contacted by Reuters.

Israeli officials have said the law amounts to Holocaust denial.

Reporting by Pawel Sobczak; Writing by Lidia Kelly; Editing by Susan Fenton

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