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Government Concessions Widen Value Gap
The Hong Kong exchanges are at loggerheads over their merger valuations, with a key sticking point being the value of HKSCC. The Government is responsible for this, having made a U-turn on its earlier position that HKSCC should not be attributed any value. This is one of a series of concessions they have made in an effort to avoid a showdown with small brokers. We take you through the valuation debate and the wider issues discussed in the latest policy paper.