An angular analysis of the decay Bs0→K∗0Kˉ∗0 is performed using pp collisions corresponding to an integrated luminosity of 1.0fb−1 collected by the LHCb experiment at a centre-of-mass energy s=7 TeV. A combined angular and mass analysis separates six helicity amplitudes and allows the measurement of the longitudinal polarisation fraction fL=0.201±0.057(stat.)±0.040(syst.) for the Bs0→K∗(892)0Kˉ∗(892)0 decay. A large scalar contribution from the K0∗(1430) and K0∗(800) resonances is found, allowing the determination of additional CP asymmetries. Triple product and direct CP asymmetries are determined to be compatible with the Standard Model expectations. The branching fraction B(Bs0→K∗(892)0Kˉ∗(892)0) is measured to be (10.8±2.1(stat.)±1.4(syst.)±0.6(fd/fs))×10−6