The Hong Kong Stock Exchange (HKEX) has made an unsolicited offer to buy the London Stock Exchange (LSE).
The deal would be worth over £30bn in cash and shares.
This is contingent on LSE’s bid to buy Refinitiv for £22bn falling through.
The London exchange says it is still committed to the Refinitiv deal.
What does this mean?
The deal could make both exchanges more competitive against rivals. Amid Brexit uncertainty, Hong Kong is showing increasing interest in the UK with ‘Superman’ Li Ka-Shing having just bought Greene King for £4.6bn.