Hong Kong Exchanges and Clearing proposes merger with LSE

Hong Kong Exchanges and Clearing proposes merger with LSE

FILE PHOTO: The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. REUTERS/Bobby Yip/File Photo

(Reuters) – Hong Kong Exchanges and Clearing Limited said on Wednesday it has made a proposal to the board of London Stock Exchange Group Plc to combine the two companies which values the LSE at about 29.6 billion pounds ($36.6 billion).

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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