Friday 20 September 2019
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business-standard - 9 days ago

Hong Kong stock exchange operator makes bid to buy London Stock Exchange for US$36.6 billion

Hong Kong Exchanges and Clearing (HKEX) has offered to buy the London Stock Exchange Group (LSEG) for 36.6 billion US dollars, the operator of Asia s third-largest market announced on Wednesday. The proposed combination will strengthen both businesses, better position them to innovate across markets and geographies, and offer market participants and investors unprecedented global market connectivity, the operator of the city s stock market said in a stock exchange filing.It will mark the second overseas acquisitions of the HKEX after it took over the London Metal Exchange in 2012 to step into commodities, according to South China Morning Post.In a statement posted on HKEX website, Chief Executive Charles Li said bringing HKEX and LSEG together will redefine global capital markets for decades to come. Both businesses have great brands, financial strength and proven growth track records. Together we will connect East and West, be more diversified and we will be able to offer customers .


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