Hong Kong stock exchange swoops in for London rival

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Hong Kong stock exchange swoops in for London rivalThe Hong Kong stock exchange wants to buy its London counterpart to create a company worth more than $70 billion that could shore up the U.K. capital's status as a global financial hub after Brexit. Hong Kong Exchanges and Clearing Ltd. said Wednesday it is looking at a deal that would value the London Stock Exchange Group at 29.6 billion pounds ($36.6 billion). The London Stock Exchange, which is over three centuries old, said it will consider the cash-and-shares proposal.

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