In a statement on Tuesday, Hong Kong Exchanges and Clearing Ltd, said it still believed the combination of the two exchanges would be "strategically compelling". "HKEX is disappointed that it has been unable to engage with the management (of the London Stock Exchange) in realising this vision," HKEX said.
HONG KONG: Hong Kong's bourse on Tuesday dropped its unsolicited $39 billion bid for London Stock Exchange Group (LSE) , conceding it hadn't won over LSE management for a move that could have transformed both global financial services businesses.
The surprise approach, made last month, had threatened to upend the LSE's own $27 billion plan to buy data and analytics company Refinitiv. The Hong Kong exchange had said the LSE would have to ditch the Refinitiv purchase for its offer to go ahead.
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