“……”

“……”

In its reply to the HKEX, the London Stock Exchange rejected the HKEX's surprise proposal from four aspects: strategic level, feasibility, form of merger and acquisition, and value.

The London Stock Exchange believes that the proposed merger offer of the HKEX is not in line with its strategic objectives.

“…… HKEX's geographical location and trading aspects are contrary to the LSE's strategic considerations. ”

“…… We value the opportunities in the Chinese market, however, we do not believe that HKEX can provide us with the best long-term positioning in Asia, and we value the mutually beneficial partnership with the Shanghai Stock Exchange......"

“…… Proposals will be subject to multiple scrutiny, and there is a serious risk of non-delivery. ”

“…… HKEX's consideration of equities is unattractive......"

“…… In the M&A proposal, the Hong Kong Stock Exchange has seriously undervalued us......"

That's what it means.

In Andrew's televised speech a little later, he also proved that the proposal would face scrutiny from multiple sources, not only in England itself, but also in the United States and Italy.

This is the predestined result of the nature of the London Stock Exchange.

The statement also expressed that the London Stock Exchange attaches great importance to the opportunities in the Chinese market, with a particular emphasis on the mutually beneficial cooperation relationship with the Shanghai Stock Exchange......

The London Stock Exchange also mentioned in the statement that the acquisition of Refinitiv is currently progressing well and is expected to be submitted and approved by shareholders in November this year, and will be completed in the second half of 2020.

"The market is positive about the potential of the expanded group to create further value, and the Board believes that greater value can be realized. ”

The London Stock Exchange (LESG) has also said that since the announcement of the acquisition of Refinitiv, the London Stock Exchange (LESG) has risen by 29% and increased in value by about 5.8 billion pounds......

Ning Yan's brows furrowed after reading this statement, which was originally in English.

"What's wrong?" Yan Zhi hurriedly asked.

She thought there might be something wrong with her translation.

Ning Yan made a gesture and said, "There is nothing wrong with the translation, I want to think about it......"

“……”

Because of this sharply worded public statement, it happened to catch up with the domestic CCTV news a little later, and it was quickly known by the domestic people.

Including the tendency of the news implies a kind of cynicism.

Immediately, some users in related industries answered the new question: how to view the rejection of the Hong Kong Stock Exchange by the London Stock Exchange.

“…… Thank you, I personally feel that this will become a joke in the field of international finance for at least thirty or fifty years...... Generally speaking, when it comes to offer cases of this level, they will pay attention to decency, but the reply of the London Stock Exchange is quick and accurate, and the words are heartfelt:

Let me briefly translate the four aspects proposed by the London Stock Exchange: 1. Would you rather match?2. Want to fool your father?3. Sand sculpture will ask for your stock quotation!4. Dad is worth this money?

At the same time, the London Stock Exchange announced the reply letter from the board of directors to Li Xiaojia, chairman and chief executive officer of the Hong Kong Stock Exchange: ...... Dissatisfaction and disappointment. The meaning is obvious, the Hong Kong Stock Exchange suddenly publicly announced the acquisition proposal in less than two days, and it is not a hostile takeover?"

"After reading the sharp comments of the People's Daily, I will analyze it a little, this is a farce, the so-called marriage of the century is just a ...... after finding that he was abandoned by the world."

"Slap in the face!"

"It's normal to refuse, but the reason is a little humiliating, and I'm afraid that the face of the Hong Kong Stock Exchange will hurt for a while......"

“……”

After such a thing happened, Ning Yan was particularly concerned about the enthusiasm of the people in China.

Sure enough, it's all cynicism.

Just as I hoped that the merger would succeed before, I hope that the Hong Kong Stock Exchange will have a headache now.

For these comments, Ning Yan was not surprised.

What surprised him was the tendency of sharp reviews.

"The Tama Hong Kong Stock Exchange is really not a good man......," Ning Yan complained in a low voice.

He still didn't understand, so he wasted so much information in advance.

For the higher-ups, this is a farce.

It's a farce with different personal demands.

Yan Zhi hesitated for a moment and comforted: "You should just come to London for a vacation, don't worry about this kind of bullshit." ”

"Hmm. ”

“……”

If that's all it takes, it's nothing more than watching an international drama.

Not long after, the Hong Kong Stock Exchange issued an announcement.

"I am disappointed and will continue to engage with the London Stock Exchange. ”

According to the announcement, the board of directors of the Hong Kong Stock Exchange still believes that the merger with the London Stock Exchange is a major strategic opportunity for mutual benefit and win-win results, which can create a leading global financial market infrastructure.

The HKEX Board looks forward to a constructive dialogue with the LSE Board.

Disappointment at the London Stock Exchange's refusal to negotiate head-to-head.

Finally, Bilian said that we wanted to prove that the proposed merger was far more desirable than the LB's plan to acquire Refinitiv.

"Huh...... I can see that there are too many selfish operations here, why don't I know that the board of directors of the Hong Kong Stock Exchange thinks so?" Ning Yan smiled.

Have you forgotten that you haven't communicated with the shareholders on the board at all?

At least the Hong Kong Stock Exchange is afraid that it has forgotten its major shareholder Morgan?

Of course, Ning Yan also saw that as early as yesterday, when the Hong Kong Stock Exchange made a public merger offer, Li Xiaojia had a clear understanding.

"There may never be a perfect time for a strategic deal......

“…… Now may not be the best time to make huge cross-border transactions, and the reality is that time is running out. ”

"All in all, today is the beginning of the attempt. We will do our best to achieve this once-in-a-lifetime cross-border marriage. ”

“……”

Ning Yan also saw that the HKEX has indicated that it has made detailed preparations for this plan, and in addition, the HKEX has also held preliminary constructive discussions with relevant regulators and policymakers.

The Hong Kong Stock Exchange also directly appealed to the shareholders of the London Stock Exchange to increase its efforts to acquire the London Stock Exchange.

However, what Ning Yan saw was that politicians, including Italy, revealed to the media that the Hong Kong Stock Exchange had not yet stated the reasons for the acquisition to the Italian business regulator of the London Stock Exchange.

"It's a mouthful of kung fu that you can't practice. ”

In the end, Ning Yan gave the Hong Kong Stock Exchange a comment.

What arranges a trip to London for various meetings.

Contacts with regulators were arranged.

Why did you go early?

Of course, Ning Yan also knows the reason for the perseverance of the Hong Kong Stock Exchange, according to the acquisition rules of England, although the London Stock Exchange sternly refused, the Hong Kong Stock Exchange still has three weeks to issue a formal takeover offer.

As far as Ning Yan knows, several shareholders of the London Stock Exchange, including the Qatar Investment Authority, the largest shareholder, are quite supportive of the deal to acquire Refinitiv.

The Hong Kong Stock Exchange roughly revealed the next plan to the media:

"HKEX believes that LSE shareholders should have the opportunity to analyse the transaction proposals in detail and will continue to engage with them......"

After watching this farce, Ning Yan said directly: "Contact a hammer." ”

"The shareholders of the London Stock Exchange will take care of it, and you will count me as losing!"

When he said this, Ning Yan was very confident, Ning Wanqiang's trip to New York was not a show!

Again......

Who told you that the shareholders of the London Stock Exchange are still those ones?

======

Broken bowls.