The Hong Kong stock exchange has settled a deal to buy the London Metal Exchange for £1.39 billion pound, it is the world’s largest exchange trading nonferrous metals, including copper and aluminium.
“The acquisition of LME Holdings represents a unique opportunity for us to acquire in one stroke a position of global leadership in the commodities market,” HKEX chief executive Charles Li stated.
“This is consistent with our strategy to expand beyond equities and equity derivatives and offers significant opportunities for revenue growth.
“HKEX brings a unique ability to help the LME grow its business in Asia and, particularly, China and we will capitalise on this to deliver value for all our stakeholders,” he said.
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