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Holder of 5% of Bucharest Stock Exchange resigned from board. UPDATE Daniel Tepes reviews decision to resign

de D.P., transl. V.O.
Marţi, 24 august 2010, 14:52 English | Business

Daniel Tepes, who holds about 5% of the Bucharest Stock Exchange (BVB), has resigned unexpectedly from the BVB board six months after joining the body. Tepes, who also holds broker company HTI Valori Mobiliare, is also a shareholder in the Sibiu exchange.

UPDATE Later on Tuesday, Daniel Tepes reconsidered his decision to resign. Stere Farmache, head of the BVB board, told that in the morning the Exchange received an information from Tepes regarding his resignation, but eventually they managed to get in contact with him and he reconsidered his decision. For his part, Cristian Sima, owner of WBS Holding brokers and one of the most important people on the Romanian capital market, told he did not know of Tepes' decision to resign.

Daniel Tepes owns HTI, a company which he sold to Morgan Stanley in 2007 and bought back in 2009, when the Americans withdrew from the local market.

Daniel Tepes could not be contacted immediately. For his part, Teodor Ancuta, president of Sibex, told he regretted Tepes' decision and that the merger process between Sibex and BVB would take a time-out.

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