Hong Kong’s Stock exchange plans to acquire the London Stock Exchange Group PLC at $37 billion. As per the Hong Kong Exchanges and Clearing Ltd. this combination will create a global leader in capital flows and financial data. This offer also aims at thwarting a collaboration between LSE and Refinitiv. LSE would consider the HKEX proposal and will remain committed to acquiring Refinitiv.

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HKEX Chief Executive Charles Li said on Wednesday that “We believe we have put forward a proposal that is ambitious, far-reaching, and could have a transformative effect on global financial markets”.