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Hong Kong Exchanges proposes $39 bln London Stock Exchange takeover

Credit: REUTERS/Bobby Yip

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.

LONDON, Sept 11 (Reuters) - The Hong Kong Exchanges and Clearing Limited has proposed a 31.6 billion pound ($39 billion) takeover of the London Stock Exchange LSE.L, 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 BX.N 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.

($1 = 0.8095 pounds)

(Reporting by Huw Jones and Sinead Cruise; editing by Jason Neely)

((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters Messaging: huw.jones.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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