The LSE said a Hong Kong takeover could well be rejected by regulators or governments in Britain, the U.S. and Italy.
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The London Stock Exchange emphatically rejected the Hong Kong bourse's $39 billion takeover offer Friday, opting to stick with its planned purchase of data and analytics group Refinitiv.HKEX's valuation of the LSE falls "substantially short" and the "ongoing situation in Hong Kong" adds to uncertainty for shareholders, the London bourse added, a reference to weeks of pro-democracy street protests in the former British colony.HKEX, Hong Kong Exchanges and Clearing, had no immediate comment.HKEX made its surprise offer Wednesday, just two days after its officials traveled to London to present it to LSE Chief Executive David Schwimmer for the first time.HKEX has touted the deal as providing London with a major gateway to the rapidly growing Chinese economy, but the LSE said that HKEX did not provide the best long-term positioning for this.
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