Quebec's securities regulator has the authority to block the London Stock Exchange's (LSE.L) takeover offer for the TMX Group (X.TO), Quebec Finance Minister Raymond Bachand said on Wednesday. "The transaction is subject to the approval of the Autorite des marches financiers (Quebec's regulator)," Bachand said in a French-language statement that cited promises made when the Toronto Stock Exchange took over the Montreal Stock Exchange in 2008 and formed the TMX Group. "We are going to take our time to study the details of this transaction to be sure that this meets Quebec's economic needs. We need to assure that access to capital is maintained for Quebec businesses, if not improved."
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