Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 13 submissions in the queue.

Submission Preview

Link to Story

U.S. Rejects Chinese Takeover of the Chicago Stock Exchange

Accepted submission by takyon at 2018-02-16 18:55:27
Business

US rejects China-led bid for Chicago Stock Exchange [bbc.com]

The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group. The decision comes after more than two years of reviews by officials.

The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC). But US politicians, including President Trump, have said letting a Chinese firm invest in a US exchange was a bad idea.

Under the proposal, the Chinese-led North America Casin Holdings group would have bought CHX Holdings, which owns the Chicago Stock Exchange. The exchange, which handles just 0.5% of US stock trades, had said the deal would have provided the exchange with "vital capital". That funding would have been used "to boost numerous initiatives designed to benefit the city of Chicago, the US economy and market structure as a whole".

Also at Bloomberg [bloomberg.com], NYT [nytimes.com], Reuters [reuters.com], and CNN [cnn.com].


Original Submission