| The Hong Kong Exchanges and Clearing’s (HKEx’s) recent £1.4bn purchase of the member owned London Metal Exchange (LME) certainly raised a few eyebrows. At 180 times trailing net income, it ranked as the most expensive of any bourse deal above $1bn since 2000, according to data compiled by Bloomberg.
However, the HKEx has no doubts that it was the right move. In one fell swoop this staid domestic player has been catapulted into the global league of exchanges. What now?..............................................Full Article: Source
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