Poland's Treasury has short-listed four exchanges, Deutsche Boerse (DB1.XE), LSE (LSE.LN), Nasdaq-OMX (NDAW) and NYSE-Euronext (NYX), to conduct due diligence on the Warsaw Stock Exchange, the ministry said Wednesday.

Poland's government plans to sell a majority stake in the Warsaw Stock Exchange, or Gielda Papierow Wartosciowych w Warszawie SA, by the end of 2009, as part of its ambitious privatization plan, which aims to raise 12 billion zlotys ($4.0 billion) this year.

The Treasury wants to sell a stake of between 51% and 73.82% in the exchange, which itself has played a key role since 1989 in the privatization of communist-era state-owned companies during Poland's transition to capitalism.

Members of the Warsaw Stock Exchange will also be invited to make offers for stakes of between 0.5% and 10% in the exchange, from a 22.82%-plus-one-share stake earmarked for them, the Treasury said in a statement.

The exchange industry has experienced a wave of consolidation in recent years, including NYSE's acquisition of Euronext and Nasdaq's acquisition of OMX, though deals have taken a pause during the current global economic downturn.

Treasury Ministry Web site: www.msp.gov.pl

WSE website: www.gpw.pl

 
   -By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com