Hong Kong stock exchange row over LSE tie-up with City data specialists
Hong Kong’s stock exchange is threatening to begin a war of words with London Stock Exchange, by slamming its deal to buy City data specialists Refinitiv.
Hong Kong Exchanges and Clearing (HKEX), which mounted a surprise £32bn bid for LSE last week, is planning to criticise Refinitiv, a business best known in the City for its trading terminals.
The LSE last month hailed its plan to buy Refinitiv for £22bn as a ‘transformational’ move into data – a niche which is rapidly expanding as traders demand more analytics services from exchanges.
The LSE hailed its plan to buy Refinitiv for £22bn as a ‘transformational’ move into data
But HKEX will draw attention to Refinitiv’s £10bn debt pile, and dismiss it as a utility business, The Sunday Times reported.
However, critics suggest talking down the tie-up is a crucial part of HKEX’s game plan, as it wants to buy LSE without any add-ons.
HKEX’s bid was dismissed on Friday by the LSE board as ‘fundamentally flawed’.
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