S.E.C. Blocks Chinese Takeover of Chicago Stock Exchange
- 6 years ago
S.E.C. Blocks Chinese Takeover of Chicago Stock Exchange
“Recall, the Obama administration was misguided and fully endorsed this transaction.”
Other Chinese-backed deals have come under scrutiny, including a partnership between Goldman Sachs
and China’s sovereign wealth fund, the China Investment Corporation; a hotel buying spree by the Chinese insurance company Anbang; and an effort by Huawei Technologies to purchase a stake in 3Com, an American maker of internet routers and networking equipment.
“This has been a long fight, and I am grateful that we have a president who recognizes the security threats from Chinese government-affiliated
ownership of the Chicago Stock Exchange,” Representative Robert Pittenger, Republican of North Carolina, said in an emailed statement.
The proposed deal, in which a subsidiary of the Chongqing Casin Enterprise Group was to buy the exchange, drew sharp criticisms from Republican
and Democratic lawmakers, who said it could put the security and stability of United States financial markets at risk.
During a presidential debate in South Carolina in 2016 after the deal was announced,
he said: “China bought the Chicago Stock Exchange — China, a Chinese company.
“Recall, the Obama administration was misguided and fully endorsed this transaction.”
Other Chinese-backed deals have come under scrutiny, including a partnership between Goldman Sachs
and China’s sovereign wealth fund, the China Investment Corporation; a hotel buying spree by the Chinese insurance company Anbang; and an effort by Huawei Technologies to purchase a stake in 3Com, an American maker of internet routers and networking equipment.
“This has been a long fight, and I am grateful that we have a president who recognizes the security threats from Chinese government-affiliated
ownership of the Chicago Stock Exchange,” Representative Robert Pittenger, Republican of North Carolina, said in an emailed statement.
The proposed deal, in which a subsidiary of the Chongqing Casin Enterprise Group was to buy the exchange, drew sharp criticisms from Republican
and Democratic lawmakers, who said it could put the security and stability of United States financial markets at risk.
During a presidential debate in South Carolina in 2016 after the deal was announced,
he said: “China bought the Chicago Stock Exchange — China, a Chinese company.