After a day of roiling rumours, James Quinn and Ben Harrington at the Telegraph told us on Thursday that Singapore Exchange is in merger takeover talks with the London Stock Exchange.
While the tale includes the usual escape chutes (“banking sources indicated that any form of formal offer is still some time away,” etc) the idea has a clear ring of truth to it. The talks are said to have grown out of discussions on the large cap cross-trading agreement between London and Singapore, unveiled just a week ago.
But that’s not to say it’s a done deal. Just because HKEx is busy finalising its takeover of the LME doesn’t mean that the leading Eastern equities exchange is not interested in the LSE.
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