“HKEX bought LME a few years ago to have a presence in the UK already, but clearly they are trying to diversify away from their Chinese exposure, which is why they are bidding now and not nine months ago,” he said.
A successful Hong Kong bid for the LSE would sabotage Blackstone’s lucrative deal to sell Refinitiv. It would also scupper plans to refinance some $13.5 billion worth of leveraged loans and bonds which were issued to pay for Refinitiv with investment grade bonds issued by the LSE.
The Asian exchange, however, said it was confident its proposal faced no major regulatory hurdles due to little overlap in markets.
The Hong Kong government threw its support behind the move.
The UK Treasury declined to comment on commercial matters.
Additional reporting by Jennifer Hughes and Alun John in Hong Kong and Yoruk Bahceli and Abhinav Ramnarayan in London; Editing by Jason Neely and Pravin Char.Read more: Reuters Top News
Not Hong Kong but the CPC behind it, Hong Kong is struggling This would be tragic. No Deal
Hong Kong Exchanges proposes $39 billion London Stock Exchange takeoverThe Hong Kong Exchanges and Clearing Limited has proposed a 31.6 billion pound (... save_israa With China trying to swallow up Hong Kong entirely, this should work out just fine. Between the EU and China, Great Britain will soon only exist in folklore. who would want soon to be worthless HK$?
Hong Kong Stock Exchange Makes $36.56 Billion Bid for London Stock ExchangeThe Hong Kong Stock Exchange said it has approached the London Stock Exchange with a $36.56 billion cash and share offer and plans to seek a recommendation from its board. London on sale? What does that even mean? And how is that possible
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