HONG KONG -- Hong Kong Exchanges & Clearing's 32 billion-pound ($39.4 billion) bid to create a global trading powerhouse by acquiring London Stock Exchange Group lasted just a month.
The reason HKEX launched its bold offer, to diversify itself from China, ultimately was the reason LSEG was not interested in the bid, especially given the ongoing protests in Hong Kong. It will now be forced to once again tout itself as a capital-raising market and a gateway to China, even as it faces a competitive threat from mainland exchanges.
