The Singapore Exchange (SGX) denied it was in talks to buy the London Stock Exchange, a sign there is little appetite for more large cross-border deals after several takeover attempts failed. The two operators last week agreed to allow their clients to trade blue-chip shares on both platforms, the sort partnership SGX would prefer to costly acquisitions.
"SGX has not engaged in talks with the LSE on a potential merger. However, we are open to collaborations and partnerships which may benefit our shareholders and the company," the Asian exchange said on Friday. The statement was a response to a story in Britain's Daily Telegraph, which said the two were in talks about a potential 7.2 billion pound ($11.3 billion) merger. The story was posted on the newspaper's website on Thursday. The newspaper said a takeover would be in the region of 1,350 pence per share.