Hong Kong Exchanges and Clearing proposed on Wednesday to acquire the London Stock Exchange for around $39 billion, contingent on the LSE dropping its $27 billion purchase of financial data company Refinitiv from The Blackstone Group and Thomson Reuters.
Why it matters: Both Hong Kong and London are worried about remaining global financial centers, due to the anti-China protests and Brexit. This could either firm up their position or obliterate it.
What they're saying: LSE said in a statement that it remains committed to the Refinitiv deal.
The bottom line: Even if the LSE is willing to switch up strategies — going for more of an uber-exchange than a Bloomberg terminal rival — it's far from certain that British regulators would sign off.
Go deeper: How Brexit and Hong Kong could influence the Saudi Aramco IPO
