Hong Kong Stock Exchange bids almost 32bn pounds for London rival

The Hong Kong Stock Exchange has bid nearly 32 billion pounds ($40 billion, 36 billion euros) including debt for its London rival, it announced on Wednesday.

"Hong Kong Exchanges and Clearing Limited today announces that it has made a proposal to the board of London Stock Exchange Group Plc to combine the two companies," it said in a statement, adding the bid is worth 31.6 billion pounds including 2.0 billion pounds of debt.