News Summary: HK exchange makes bid for LME
You are here
-
Hong Kong Exchanges and Clearing Ltd. Chief Executive Charles Li speaks during a news conference in Hong Kong Friday, June 15, 2012. Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds (US$2.2 billion) as it shifts into commodities to capitalize on Chinese demand. (AP Photo/Kin Cheung)
-
A man walks in the Hong Kong Exchanges and Clearing Ltd. headquarters in Hong Kong Friday, June 15, 2012. Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds (US$2.2 billion) as it shifts into commodities to capitalize on Chinese demand. (AP Photo/Kin Cheung)
-
A man walks in front of the Hong Kong Exchange Square in Hong Kong Friday, June 15, 2012. Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds (US$2.2 billion) as it shifts into commodities to capitalize on Chinese demand. (AP Photo/Kin Cheung)
-
Hong Kong Exchanges and Clearing Chief Executive Charles Li speaks during a news conference in Hong Kong Friday, June 15, 2012. Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds (US$2.2 billion) as it shifts into commodities to capitalize on Chinese demand. (AP Photo/Kin Cheung)
CHINESE DEMAND: Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds ($2.2 billion) as it shifts into commodities to capitalize on Chinese demand.
EXPANSION: The Hong Kong exchange's offer follows plans announced earlier this year to expand into commodities. That makes a major shift from its slow-growing equities business.
GROWTH OPPORTUNITY: Hong Kong Exchanges said the deal would provide a platform for "significant revenue growth" as LME expands its business and operations in the region.
Comments