The London And Hong Kong Stock Exchanges Could Merge

The Hong Kong stock exchange has made a proposal to acquire the London Stock Exchange Group PLC for $37 billion, according to The Wall Street Journal.

Hong Kong Exchanges and Clearing has said in a statement that combining the two exchanges would bring together the largest and most significant financial centres in Asia and Europe.

"We believe we have put forward a proposal that is ambitious, far-reaching, and could have a transformative effect on global financial markets," said Charles Li, CEO of the Hong Kong company.

Last month, reports emerged that the LSE had planned to acquire Refinitiv Holdings, which is affiliated with Thomson Reuters. The merger would be worth about $27 billion.

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