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Article: Tiny Estonian bourse hit hard by departure of dominant company _ but not giving up
- Article from:
- AP Worldstream
- Article date:
- June 21, 2005
- Author:
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JARI TANNER, Associated Press Writer
AP Worldstream
06-21-2005
Dateline: TALLINN, Estonia
The Tallinn stock market has never been more than a bit player among European bourses. But when word came that the company that represented 80 percent of its daily trading was being delisted, some thought the exchange was doomed.
Hansabank Group _ the Baltics' biggest financial institution with 2.6 million clients in Estonia, Latvia and Lithuania _ will leave the bourse on June 30 after a takeover by Swedish banking group Swedbank.
"As far as the international investor community is concerned, nobody has ever been asking for second-tier stocks in the Baltics," said Andrzej Nowaczek, an analyst at Credit ...