INSUBCONTINENT EXCLUSIVE:
Hong Kong Exchanges already has a base in London as owner of the London Metal Exchange.The Hong Kong Exchanges and Clearing Limited has
proposed a 31.6 billion pound ($39 billion) takeover of the London Stock Exchange, it said on Wednesday, just weeks after the London bourse
announced a plan to merge with data company Refinitiv
"The board of HKEX believes a proposed combination with LSEG represents a highly compelling strategic opportunity to create a global market
infrastructure leader," the Hong Kong exchange said in a statement
The proposed transaction would only go ahead if the LSE's proposed takeover of Refinitiv does not proceed, it said
Hong Kong Exchanges already has a base in London as owner of the London Metal Exchange.The LSE has long sought to bolster its footprint in
Asia and recently launched a link with Shanghai.The LSE had no immediate comment.Refinitiv had no comment, and Refinitiv majority
shareholder Blackstone had no immediate comment."The board of HKEX believes that the two businesses are highly complementary and as such,
looks forward to working with the relevant authorities to deliver a clear path to completion," the HKEX said.Get Breaking news, live
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