London Stock Exchange Rejects Bid From Rival Hong Kong Exchange -- Update
13 Setembro 2019 - 10:09AM
Dow Jones News
By Margot Patrick
LONDON -- London Stock Exchange Group PLC on Friday rejected a
$36.6 billion bid from Hong Kong Exchanges and Clearing Ltd.,
saying it had "fundamental concerns" about the price and Hong
Kong's long-term future as a financial gateway.
The U.K. operator said it remains committed to buying
financial-information and terminal company Refinitiv Holdings Ltd.,
a $14.5 billion deal it struck in July that would have been
scrapped if the Hong Kong exchange succeeded in its bid.
Shares in LSE were about 2% higher after the rejection, having
already risen almost 6% on Wednesday after HKEX announced its
offer.
The bid surprised investors. A successful tie-up looked like a
long shot to many analysts because of regulatory and political
hoops. Hong Kong is reeling from a summer of antigovernment
protests that have raised concerns about China's tightening grip on
the financial center.
In a letter to the Hong Kong exchange issued publicly, LSE
Chairman Don Robert said the proposal didn't meet LSE's strategic
objectives and has "serious deliverability risk."
He said LSE's board doesn't believe HKEX is the best partner for
its long-term positioning in Asia, and said the Shanghai Stock
Exchange, which it has business agreements with, is its preferred
channel to access opportunities with China.
"There is no doubt that your unusual board structure and your
relationship with the Hong Kong government will complicate
matters," Mr. Robert said.
Write to Margot Patrick at margot.patrick@wsj.com
(END) Dow Jones Newswires
September 13, 2019 08:54 ET (12:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
London Stock Exchange (LSE:LSEG)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
London Stock Exchange (LSE:LSEG)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024