The 0388.HK said on Tuesday that it would not continue to offer a $39 billion takeover offer to the London Stock Exchange Group (LSE) (LSE.L) because it failed to convince LSE management to agree to a merger vision.
"The board still believes that the merger of the HKEx and the HKEx is of strategic importance and will create a world-leading market infrastructure group. Despite contacts with many regulators and a large number of shareholders, the board of directors is disappointed at the failure to convince the management of the HKEx to agree with this vision. In the best interests of HKEx shareholders, the directors It will decide not to continue the offer process."
The HKEx made a $39 billion offer to Lun in mid-last month, but was quickly rejected. The LSE chose to continue to purchase Refinitiv financial data as planned, and said there was a fundamental concern about the key aspects of the HKEx's takeover proposal. It also pointed out that the proposal had no strategic value and that the relationship between HKEx and the government would "complicate the problem".
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