September 13, 2019 / 1:30 PM / 3 months ago

BUZZ-LSE up after it rejects Hong Kong Exchange's bid

(Updates share move)

** LSE stock up 3.3% at 7,484p after co rejects Hong Kong Exchange’s takeover offer

** Shares briefly moved to session low after the statement

** LSE rejected Hong Kong Exchange’s takeover offer, opting to stick with its planned purchase of data and analytics group Refinitiv

** HKEX’s offer was conditional on LSE ditching Refinitiv deal

** Stock hit a session high of 7,566p by 1250 GMT, suggesting investors backed the decision to rebuff HKEX’s offer

** “HKEX never looked like the ideal bride” - Markets.com analyst Neil Wilson

** LSE stock, which had hit an all-time high after HKEX bid, outperformed the FTSE All Share General Financial Index sector by 0.6% in Aug.

** The exchange operator has a current market cap of 25.75 bln stg, 55.8% higher than its market cap a year ago (16.5 bln pounds)

** LSE shares up 81.3% for the year

** Thomson Reuters, which is the parent company of Reuters, will hold 15% of LSE after the Refinitiv deal

Reporting by Muvija M and Noor Zainab Hussain in Bengaluru

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