Hong Kong to buy London stock exchange

rjjfan

The Greatest
May 17, 2013
10,792
3,890
Wow never thought this would have happened in my lifetime.

HKEX makes US$36.6 billion surprise bid to take over London Stock Exchange to grow into a global financial marketplace
  • HKEX made an indicative offer to pay £83.61 per LSE share in cash and stock for the London bourse operator, valuing it at £29.6 billion
  • The takeover would be the HKEX’s second overseas acquisition by after its 2012 purchase of the London Metal Exchange
 
Jun 4, 2013
5,529
2,370
Read this today, If this goes through it'd be criminal. I don't think any nationality's stock exchanges should have a for sale sign up.

(But the irony of an ex colonial outpost buying that power's national city's stock exchange down the line isn't lost on me however)

Additionally. Maybe it's just me but more and more I feel like the UK is just whoring itself out to the world rather than trying to be something of substance.
 
Reactions: Aussie_Al

rjjfan

The Greatest
May 17, 2013
10,792
3,890
Read this today, If this goes through it'd be criminal. I don't think any nationality's stock exchanges should have a for sale sign up.

(But the irony of an ex colonial outpost buying that power's national city's stock exchange down the line isn't lost on me however)

Additionally. Maybe it's just me but more and more I feel like the UK is just whoring itself out to the world rather than trying to be something of substance.
Yeah I don't think it'd go through for security reasons but if you told me 20 years ago this may happen, I'd have laughed.

London is still the world financial hub and if this goes through, it's practically handing over it's crown to Hong Kong. Very bold move by Hong Kong.
 
Reactions: Someguy101
Jun 4, 2013
5,529
2,370
Yeah I don't think it'd go through for security reasons but if you told me 20 years ago this may happen, I'd have laughed.

London is still the world financial hub and if this goes through, it's practically handing over it's crown to Hong Kong. Very bold move by Hong Kong.
I suspect this has the backing of the Chinese mainland in some form of soft power grab.

People fault China on many things but have a system that doesn't allow for foreign takeover and ownership does have advantages.
 
Reactions: rjjfan
Jul 24, 2012
8,112
7,813
So they're going to sell the LSE for roughly the price they will be paying to the EU for Brexit.