Hong Kong makes 37 billion dollar bid for the London Stock Exchange

Mar 2012
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Hong Kong has just made a surprise £30 billion ($37 billion) bid for the London Stock Exchange.

Hong Kong Exchanges and Clearing (HKXCF) (HKEX) said Wednesday it had made a proposal to the board of the LSE (LNSTY) to "combine the two companies" in a cash and share deal worth £29.6 billion, or £31.6 billion ($39 billion) including debt.

The deal would "redefine global capital markets for decades to come," HKEX CEO Charles Li said in a statement.

It would reinforce Hong Kong's position as the key connection between mainland China, Asia and the rest of the world, HKEX said.

Hong Kong's offer comes at a sensitive time. Brexit uncertainty is casting a shadow over London's role as a global financial center. At the same time, Hong Kong — Asia's premier financial hub — has been rocked by months of pro-democracy protests.

Hong Kong makes $37 billion bid for London Stock Exchange - CNN
 
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