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Saturday, March 26, 2011

Scotia CEO gives qualified support to LSE-TMX deal, (TSE: X), (TSE: BNS)

The head of Canada's No. 3 bank said on Saturday he supports the C$3.1 billion ($3.2 billion) takeover of the country's main stock market by the London Stock Exchange LSE.TO, providing tweaks are made to protect national interests. The deal for TMX Group (X.TO), part of a big consolidation of exchanges around the world, should include governance measures to give investors comfort that Canada's capital markets can operate during times of crisis, for example, Bank of Nova Scotia (BNS.TO) Chief Executive Rick Waugh said. "My hope is this deal goes through with some modifications that do protect some real national and regional interests. I'm optimistic and hopefully they can (make them)," Waugh told reporters at a meeting of Western Hemisphere economic leaders.

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