Hong Kong’s LME Purchase Helps in Bargaining With China, Li Says
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Hong Kong Exchanges & Clearing Ltd.’s $2.2 billion purchase of the London Metal Exchange may help the bourse operator in its negotiations with China, said Chief Executive Officer Charles Li.
The LME “will deliver substantial strategic collateral benefit in order for us to position ourselves to renegotiate a grand bargain with China Inc.,” Li told a conference today in Hong Kong. “Whatever we paid, ultimately it’s going to be a great bargain if you look at it a few years from now.”