Business

Hong Kong Exchanges and Clearing proposes merger with LSE

(Reuters) – Hong Kong Exchanges and Clearing Limited <0388.HK> said on Wednesday it has made a proposal to the board of London Stock Exchange Group Plc <LSE.L> to combine the two companies which values the LSE at about 29.6 billion pounds.

LSE in August agreed to buy financial information provider Refinitiv in a $27 billion deal aimed at offering trading across regions and currencies and establishing the British company as a rival to Bloomberg.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely)

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