TASE eyes acquisition of Cyprus Stock Exchange
The Tel Aviv Stock Exchange (TASE) is exploring the acquisition of the Cyprus Stock Exchange, which is undergoing privatization. The potential deal, led by TASE CEO Ittai Ben-Zeev, is in early stages with a valuation in the tens of millions of euros. A tender for the sale to a strategic buyer is expected within months, with Euronext as a prominent candidate. TASE seeks expansion after significant growth, including its own flotation in 2019 and a plan targeting 15-18% annual revenue growth over five years.
The Tel Aviv Stock Exchange (TASE) is examining the possibility of acquiring the Cyprus Stock Exchange, which is undergoing privatization. The move, led by TASE CEO Ittai Ben-Zeev, is in initial stages and would be at a valuation in the tens of millions of euros. Earlier this year, the Cypriot House of Representatives unanimously passed a law for the privatization of the state-owned exchange. A tender for the sale to a strategic buyer is expected within months. Euronext, the largest stock market in Europe, is a prominent candidate. TASE is seeking expansion after significant upgrades, including its own flotation in 2019. Its average daily turnover grew from NIS 284 million to NIS 5.7 billion in the first half of 2026, and its market cap has reached some NIS 12 billion. Last month, TASE released a plan targeting 15-18% annual revenue growth over five years, including strategic collaborations and entry into tangential fields. The Cyprus Stock Exchange has a daily turnover of only a few million euros, dominated by Eurobank, Bank of Cyprus, and Demetra Holdings.