Deutsche Boerse not to increase Warsaw Boerse bid

FRANKFURT (Reuters) - Deutsche Boerse (DB1Gn.DE) said on Saturday that it would not increase its bid for a controlling stake in the Warsaw Boerse after the Polish government requested an improved offer for the exchange.

Deutsche Boerse said in a statement it had "submitted a bid based on a fair market value and a clear assignment of competency," and that it was declining to amend its offer.

Deutsche Boerse did not release the value of the bid.

Polish media reports said last week that Poland had requested an improved offer for the Boerse, which included demands for more clarity on how the exchange's infrastructure could be boosted.

In a pre-release from a report in the Frankfurter Allgemeine Sonntagszeitung, the newspaper cited unnamed financial sources saying that Deutsche Boerse could break off talks on the sale.

The newspaper cited unnamed members of the Polish government who had valued the entire exchange at more than 1 billion euros ($1.49 billion).

Deutsche Boerse was the sole remaining bidder looking for a controlling stake in the state-owned Warsaw bourse after three market operators --NYSE Euronext (NYX.PA) (NYX.N) and Nasdaq OMX (NDAQ.O) and the London Stock Exchange (LSE.L) -- had pulled out of the running.

The Polish state wants to sell between 51 and 73.8 percent of the exchange whose combined market cap stands at some $235 billion.

The Warsaw bourse has built a strong position in the region, outdistancing rival Wiener Boerse in terms of the valuation of its listed companies.

(Reporting by Tyler Sitte)