London Stock Exchange votes against HK protests

Editor's Note: London Stock Exchange has formally rejected a 32 billion pound ($40 billion) takeover bid by Hong Kong Stock Exchange citing "business concerns" just a few days after the latter made the proposal. People's Daily comments:

In a statement to the stock market, the LSE said, "the board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement", adding that it does not believe that the HKEX offers it the best long-term positioning in Asia or the best listing/trading platform in China.

It also said that it values mutually beneficial partnership with Shanghai Stock Exchange, which is its preferred direct channel to opportunities in China.