The board of the London Stock Exchange (LSE) has unanimously rejected the offer of the Hong Kong stock exchange HKEX, the company writes in a statement shared Friday.
The directors are concerned about a number of key elements of the proposal. HKEX's relationship with the Hong Kong government would also complicate matters.
On Wednesday, HKEX made an unexpected bid of £ 31.6 billion (€ 35 billion) on the London Stock Exchange. The Hong Kong stock exchange wanted to combine the two companies.
The offer from HKEX came after LSE announced the acquisition of the financial data company Refinitiv, with which the London stock exchange wants to become a global player. In the statement, LSE writes to continue with the plans to take over Refinitiv.