Vienna - The Vienna Stock Exchange AG is expanding its reach in Central and Eastern Europe, as it has agreed to take over a majority of the Prague Stock Exchange.
"We agreed on the general terms of sale," Beatrix Exinger, spokeswoman of the Vienna bourse, was quoted by Austrian news agency APA on Wednesday.
The Prague stock exchange is valued at between 200 million and 400 million euros (268 million to 537 million dollars), but Exinger said the sale price was still to be negotiated.
Vienna could take over up to 90 per cent of the Prague exchange, according to Czech media reports.