Advocacy Group Opposes TMX, LSE Merger

The Council of Canadians has asked Ontario’s provincial government to oppose TMX Group’s proposed merger with the London Stock Exchange.

The Council of Canadians has asked Ontario’s provincial government to oppose TMX Group’s proposed merger with the London Stock Exchange, The Wall Street Journal reports. The citizen-advocacy group is concerned that the stock-market tie-up may affect Canada’s ability to regulate its financial markets.

The London bourse’s majority ownership and board representation on the merged company may lead to the adoption of U.K. securities regulations in Canada, said Garry Neil, executive director of the group. Under the planned deal, LSE shareholders will own a 55% stake in the combined company.

Click here for the story from The Wall Street Journal.