Quebec to review TSX/LSE merger plan; says deal can’t proceed without its approval
Posted February 9, 2011 11:53 am.
This article is more than 5 years old.
QUEBEC – The Quebec government has announced public consultations on the proposed merger of the Toronto and London stock exchanges.
Quebec says the deal can’t proceed without the approval of its provincial securities regulator.
It says public hearings will examine the potential impact of the deal on Montreal’s stock market _ which merged with Toronto’s three years ago.
Under terms of that deal, the government said, Quebec’s Autorite des Marches Financiers must approve any new merger.
The government is also using the occasion to reaffirm its opposition to a national securities regular; it says the potential merger shows the benefit of having a strong local regulator, to defend local interests.
