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UK watchdog says has no view yet on Hong Kong exchange bid for LSE

UK watchdog says has no view yet on Hong Kong exchange bid for LSE
FILE PHOTO: The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. REUTERS/Bobby Yip/File Photo -
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BOBBY YIP(Reuters)
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LONDON (Reuters) – Britain’s markets watchdog said on Monday it has yet to take a position on whether the Hong Kong exchange’s $39 billion rebuffed offer for the London Stock Exchange should go ahead.

There is no firm proposal on the table at the moment and any comment in the media that the Financial Conduct Authority has reached a position should be discounted totally, FCA Chief Executive Andrew Bailey said at a Bloomberg event.

“We are listening, we are observing,” Bailey said, adding that the FCA would only take a position once a firm proposal has been made. A bid would need approval from the FCA and several other regulators from across the world to go ahead.

(Reporting by Huw Jones; editing by Jason Neely)

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