Tokyo, London bourses 'set for alliance'
The Tokyo Stock Exchange (TSE) and the London Stock Exchange (LSE) will announce an alliance tomorrow, the Nikkeibusiness daily reported today.
The two bourses have been discussing a business collaboration, which is expected to include joint development of financial products and IT-related information sharing. A capital tie-up has not been considered as part of the alliance.
The LSE, which has fought off four takeover attempts in two years, is now free to seek tie-ups after the failure of Nasdaq Stock Market's £2.7 billion hostile bid.
The TSE, Asia's biggest bourse, and New York Stock Exchange operator NYSE Group said last month they would form a strategic alliance.