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Italy should consider special powers to protect bourse in HK bid on LSE -League

Published 2019-09-11, 01:13 p/m
Updated 2019-09-11, 01:20 p/m
© Reuters.  Italy should consider special powers to protect bourse in HK bid on LSE -League

ROME, Sept 11 (Reuters) - The Italian government should consider using its special powers to safeguard the country's stock exchange in case a bid from Hong Kong Exchange 0388.HK on the London Stock Exchange LSE.L goes through, a League party's lawmaker said.

Britain's LSE owns Italian Stock Exchange Borsa Italiana, which controls the MTS platform on which Italy's government bonds are traded.

"The government should assess whether conditions are in place to use special powers," far-right League party member Giulio Centemero told Reuters, adding trading on Italian government bonds and confidential information over Italy's biggest companies go through Borsa Italiana.

Hong Kong Exchanges and Clearing made a surprise $39 billion takeover approach for the London Stock Exchange on Wednesday, aiming to sabotage the LSE's acquisition of data company Refinitiv and create a global trading powerhouse.

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