LSE's green light for Canadian link

The London Stock Exchange and its takeover target, TMX Group, said yesterday that Canadian competition authorities will not challenge the proposed combination of the two exchange operators.

The issuance of the no action letter, which had been expected, satisfies a condition of a 9 February agreement by LSE and the company that operates the Toronto Stock Exchange to join forces in a 1.8 billion deal. It faces a separate review under the Investment Canada Act.