A Canadian provincial finance minister may block the proposed $3.2 billion merger of the London Stock Exchange (LSE) and the Toronto Stock Exchange operator, TMX, The National reports. The opposition is being raised because Middle East investors own large stakes in the U.K. operator.
Borse Dubai owns 20.6% of the LSE, while Qatar Investment Authority owns a 15% stake in the LSE. The deal, which will create a primary exchange for international commodities and energy firms, if signed will give Dubai an 11.3% stake in the combined entity.
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