Home World HKEX put LSE acquisition plans to sleep

HKEX put LSE acquisition plans to sleep

The Hong Kong stock exchange operator Hong Kong Exchanges and Clearing (HKEX) has withdrawn the offer for the London Stock Exchange. According to HKEX, it was not possible to get the management of the London stock exchange company behind the acquisition plan.

The stock exchange company of Hong Kong made a bid of 29.6 billion pounds, more than 33 billion euros, for its London counterpart early in the month. According to the stock exchange company, the combination of the two stock exchanges would have been “strategically attractive”. “HKEX is disappointed that it has not been able to align with the management of the London Stock Exchange to realize this plan,” the statement said.

Reportedly, HKEX would have considered increasing the price. But the criticism from outside was quite fierce. Not only did LSE reject the bid, but the British, Chinese and Italian authorities were also critical. The British and Italian, where LSE owns a majority stake in the Milan stock exchange, because they see HKEX as a Chinese company. On the contrary, the Chinese authorities are critical of Hong Kong and want to protect the links of the London stock exchange with those in Shanghai.


About the author: John Campbell

John Campbell is the godfather of Polimedia and the oldest author from the whole team. His occasional guidance is crucial for everyone he advises.

Load More Related Articles
Load More In World

Leave a Reply

Your email address will not be published. Required fields are marked *