Hong Kong Exchange and Clearing was 'late' to making a takeover offer for the London Stock Exchange Group, HKEX's CEO admitted.
Li even said he understood LSE Group CEO David Schwimmer's rationale in rejecting the Hong Kong deal, stating: "If I were in David's shoes, I would reject Charles Li."
He added that HKEX's logic in announcing the proposed transaction at the time was that it was "now or never" and that it had to "take some risks." HKEX's chief was speaking just minutes after Schwimmer gave a speech on stage at the Sibos conference in London. Schwimmer had said earlier that he viewed Shanghai, not Hong Kong, as China's "financial center."which Schwimmer said would enable the firm to tap into foreign exchange trading and have an increased presence in fixed income.
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