TELETRADER News
9/12/2019, 8:36 AM (Source: TeleTrader)
more TeleTrader news

HKEX bid for LSEG could face US scrutiny - report

Hong Kong Exchange and Clearing Limited's $36.6 billion bid for the London Stock Exchange Group Plc could be scrutinized in Washington, the Telegraph reported on Thursday citing sources familiar with the matter.

The sources said that the bid was likely to be reviewed in the United States due to LSE's control of British clearing house LCH, which is the world's largest clearing house and handles US dollar clearing on a worldwide basis. Although it is regulated by the Bank of England, its operations also come under the remit of the US Commodity Futures Trading Commission. Neither HKEX, LSE nor the Securities and Exchange Commission provided any comments on the matter.

HKEX announced on Wednesday that it was bidding to acquire LSE. The news came after the latter itself bid $27 billion to buy financial information provider Refinitiv in August.

Breaking the News / DZ