Hong Kong stock exchange UK FSA approval for $2.2bln LME deal

HONG KONG Thu Nov 29, 2012 4:06am EST

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HONG KONG Nov 29 (Reuters) - Hong Kong Exchanges and Clearing Ltd has won approval from Britain's Financial Services Authority for its proposed $2.2 billion acquisition of the London Metal Exchange, the Hong Kong stock market operator said in a statement on Thursday.

This leaves HKEx with only two more hurdles to closing the transaction. HKEx said a court hearing to approve the deal and confirm capital reduction was expected on Dec. 5, after which it would become unconditional and take effect the next day.

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