In addition to the management of the London Stock Exchange (LSE), China now also sees little in the offer of Hong Kong exchange operator Hong Kong Exchanges and Clearing (HKEX) for its British counterpart. People’s Daily newspaper wrote that there are “continuing concerns” about Hong Kong given the ongoing protests. The LSE newspaper also praised that the rejection pointed to its existing ties with the Shanghai stock exchange.
HKEX made an unsolicited bid for the London stock exchange operator last week. For this, LSE must refrain from taking over data supplier Refinitiv. However, the British have announced that they will continue the takeover.
Earlier, the reactions of the British and Italian governments were not encouraging. They pointed to the links between HKEX and China. The Italian government responded because LSE has a majority stake in the Milan Stock Exchange.