[samdoidge]

You realise this is just one publicly listed company (not a territory of China) bidding for another publicly listed company?

[elliekelly]

HKEX's largest shareholder is the Hong Kong government. They have 6 of the company's 13 board seats and HKEX's current Chairperson was appointed by the government about 18 months ago.

Press release on the "government appointment" of Cha to the board here: https://www.hkex.com.hk/News/News-Release/2018/180212news?sc...

[chollida1]

> HKEX's largest shareholder is the Hong Kong government.

Is this true?

According to the bloomberg terminal 388 HK is owned 79% by funds( investment advisors) and only 13.78% by the Government.

Additionally 53% of shares are held by US entities and only 18% by Hong Kong entities

> HKEX's largest shareholder is the Hong Kong government

That just seems like a weird lie to tell when its so easily disproved.

[elliekelly]

Being the largest shareholder of HKEX does not mean they're the majority shareholder. Every ownership percentage you've quoted from Bloomberg is an aggregate across multiple investors except the 13.78% owned by the government.

I suspect you assumed largest meant majority because of the number of board seats the government controls. Interestingly, it appears that's unrelated to the government's financial stake in the entity. Securities laws in Hong Kong permit the Financial Secretary (a member of the Executive Council) to appoint up to eight board members. The government's authority over HKEX board appointments is outlined in Section 77[1] of the Securities Futures Ordinance.

[1] https://www.elegislation.gov.hk/hk/cap571?xpid=ID_1438403466...

[yoden]

I don't think it's a lie, you've just misunderstood "Largest" to mean "Majority". The government is probably the largest individual shareholder, unless Reuters made a mistake.

[cobookman]

Just look at Alibaba. The government likely owns even more shares through proxies or threatening of families.

[kenned3]

You apparently have a bloomberg terminal in front of you (They are rather expensive) but you dont seem to understand what "Largest Shareholder" means? Then you say it is a lie?

Can you use your bloomberg to find ownership by individual firms and see if any single holder exceeds the 13.78% the government holds according to your post?

[zorked]

Nothing of what you said is incompatible with the HK government being the largest shareholder.

[willis936]

Hong Kong's long term independence is uncertain at best. A company cannot just be "publicly listed" if in the PRC.

[idlewords]

Britain is no island of stability either.

[willis936]

I would argue it is an island of stability in that it only requires a small perturbation to become unstable.

[mruts]

HKEX’s majority shareholder is the Hong Kong government. I would therefore say that HKEX buying LSE is, in fact, a little problematic.