September 11, 2019 / 5:19 PM / a month ago

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

ROME (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.

Reporting by Giuseppe Fonte; writing by Elvira Pollina; Editing by Lisa Shumaker

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