SGX denies LSE merger speculation
20 July 2012 | 4751 views | 0
The Singapore Stock Exchange has denied rumours that it is engaged in merger talks with the London Stock Exchange.
Shares in the LSE shot up in late trading yesterday as rumours swirled that the London bourse was discussing a merger with SGX.
Both the LSE and SGX had to pull out of prospective mergers with the Toronto Stock Exchange and the Australian Stock Exchange respectively last year as the deals ran aground over national interest concerns.
In a statement released today, SGX says: "SGX has not engaged in talks with the LSE on a potential merger. However, we are open to collaborations and partnerships which may benefit our shareholders and the company."
The two exchanges last week confirmed plans for the cross-listing of each others products on an international board of blue chip stocks, and are also rumoured to have discussed co-operation in the clearing of OTC swaps transactions. Earlier this year. The two also got together last year over the prospect of making a combined bid for the London Metal Exchange, which has since fallen into the hands of Hong Kong Exchange & Clearing.