Mr Schwimmer would not be drawn further on last week's audacious £32bn bid for the LSE from Hong Kong Exchanges and Clearing (HKEX), an offer it rejected on Friday and called "fundamentally flawed". The speculation is that HKEX's campaign will turn hostile after LSE bosses said they saw "no merit in further engagement". HKEX has vowed to pursue the deal by directly appealing to LSE shareholders.