The London Stock Exchange is too critical to the U.K.’s financial infrastructure for a takeover bid to succeed
The U.K. government could refuse to approve a potential $36.6 billion takeover of London Stock Exchange Group PLC by its Hong Kong rival because it forms too critical a part of the country’s financial infrastructure, according to people familiar with the matter.
Officials at the Bank of England, who informally advise the U.K. Treasury, believe that the London Stock Exchange’s clearing arm, LCH, constitutes crucial market plumbing, according to a person familiar with the matter. This would make any tie-up unlikely to successfully...
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