The Hong Kong Stock Exchanges on Oct. 8, 2019, formally dropped its bid to buy its London counterpart after the European exchange rejected the surprise offer.Hong Kong’s bourse on Tuesday scrapped its unsolicited $39 billion approach for London Stock Exchange Group after failing to convince LSE management to back a move that could have transformed both global financial services giants.
“Despite a huge amount of work and discussions with a broad set of regulators and extensive shareholder discussions, the level of engagement from LSEG led us to conclude that the continued pursuit of a combination of the two businesses would not be in the best interests of our own shareholders.” Analysts had viewed HKEX’s chance of success as slim after it was rejected by the LSE just two days from the HKEX going public with its interest. Political turmoil engulfing Hong Kong and perceptions of Beijing’s growing influence over the city, were seen as another key obstacle to any deal.
The HKEX has been the world’s largest capital-raising venue in five of the past 10 years, but has been working to diversify its equities focus, launching a bond trading platform with China and buying the London Metal Exchange in 2012 for £1.4 billion.
globebusiness Which was really just the PRC trying to gain control of the exchange....a version of the rothschild 1815 takeover, china style
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