Hong Kong stock exchange could find London exchange 'unaffordable,' says strategist
The Hong Kong stock exchange could find the London stock exchange 'potentially unaffordable,' according to a chief strategist at Bank of Communications International.
"It's not the cheapest deal," he said. "I think it could put this merger, if (it) goes through, to be ... one of the more expensive exchanges in the world."
HKEX proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. It said the deal would be funded by a combination of existing cash and a new credit facility.
"It's a challenge for Charles, obviously," Hong said, referring to HKEX CEO Charles Li.
$27 billion deal to acquire financial data services firm Refinitiv
"The London exchange is very strong at (fixed income, currencies and commodities) while ... Hong Kong is one of the biggest IPO markets in the world," Hong said.Read more: CNBC
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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