Tel Aviv Stock Exchange Explores Cyprus Deal
Translated & summarized from Ice by baba
The Tel Aviv Stock Exchange (TASE) is evaluating a potential bid to acquire the Cyprus Stock Exchange (CSE), which is valued at 20-40 million euros. This move is part of Cyprus's privatization efforts for the unprofitable exchange. TASE sees the acquisition as a strategic opportunity to gain a foothold in the European market, aligning with its growth strategy. Other international exchanges have also shown interest, but the CSE's privatization criteria will weigh business plans heavily.
The story in 6 lines · by baba
- The Tel Aviv Stock Exchange is considering a bid to acquire the Cyprus Stock Exchange.
- The Cyprus Stock Exchange is valued between 20 and 40 million euros and is currently unprofitable.
- Cyprus is privatizing the exchange to attract investment and expand its operations.
- TASE views the acquisition as a strategic entry into the European market.
- The privatization tender will consider business plans (30%) alongside price (70%).
- TASE aims for 15%-18% annual revenue growth by 2031.
The Tel Aviv Stock Exchange (TASE), led by CEO Itai Ben-Zeev, is considering a bid to acquire the Cyprus Stock Exchange (CSE). The CSE, currently owned by the Cypriot government, is valued between 20 and 40 million euros. This potential acquisition is part of a privatization effort by Cyprus, aimed at attracting private investment and expanding the exchange's operations. The CSE is a relatively small exchange with low trading volumes and has been unprofitable, reporting revenues of approximately 4.97 million euros against expenses of 6.86 million euros in 2025.
While a final decision to submit a bid has not yet been made, TASE will likely decide after the tender conditions are published. The Cypriot government approved legislation in February 2026 to allow the sale of the exchange to a strategic entity or international exchange operator. TASE is not the only party to have expressed interest; in 2023, Israeli entities considered a purchase, and the SIX Swiss Exchange and Athens Stock Exchange were also mentioned as potential bidders.
The landscape has since shifted, with Euronext, a major European exchange operator, acquiring the Athens Stock Exchange. Notably, the Cyprus and Athens exchanges have shared trading and clearing infrastructure since 2006, potentially giving Euronext an operational advantage if it competes. The privatization tender will weigh business plans for the exchange's development at 30%, with price accounting for the remaining 70%.
For TASE, this acquisition is relatively small compared to its own operations, which generated revenues of 563 million shekels and a net profit of 181 million shekels in 2025. The primary benefit for TASE is not immediate revenue but the opportunity to expand into the European market. Cyprus's membership in the European Union and the Eurozone could provide TASE with a stronger foothold. This move aligns with TASE's new strategic plan to increase international cooperation, enter new business areas, and facilitate flexible acquisitions, with a target of 15%-18% annual revenue growth by 2031.
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