Hong Kong stock exchange drops bid to buy London exchange
The Hong Kong stock exchange officially dropped its takeover bid for its London counterpart on Tuesday. Hong Kong Exchanges and Clearing Ltd. said it was "unable to engage" with managers of the London Stock Exchange Group. The London exchange cited concerns including the Hong Kong exchange's ties to the government of the Chinese territory. The Hong Kong Exchanges made the surprise $36.6 billion offer in mid-September.
The Hong Kong stock exchange officially dropped its takeover bid for its London counterpart on Tuesday. Hong Kong Exchanges and Clearing Ltd. said it was "unable to engage" with managers of the London Stock Exchange Group. The London exchange cited concerns including the Hong Kong exchange's ties to the government of the Chinese territory. The Hong Kong Exchanges made the surprise $36.6 billion offer in mid-September.
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