Australia's veto of a foreign bid for its main stock exchange will make it easier for Canadian regulators to block London's offer for stock exchange operator TMX Group (X.TO) as a looming federal election further politicizes the controversial deal. But there will be no decision for months on the Canadian proposal, given that TMX and the London Stock Exchange (LSE.L) have yet to submit documentation surrounding the LSE's $3 billion offer and the government then has 45 to 75 days to review the papers, with allowances for further extensions. "I think it certainly increases the risk that it would be turned down," John Gravelle, a national mining leader at PricewaterhouseCoopers, said of Australia's likely rejection of Singapore Exchange Ltd's (SGXL.SI) $7.8 billion bid for ASX Ltd (ASX.AX) on national interest grounds. [ID:nL3E7F50PP]
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