Canada banks to raise concerns on TMX deal

TORONTO: Four of Canada's six largest banks are ready to go public with concerns about the LSE's bid to join forces with the TMX Group, noting the country risks losing its influence as a financial center, a newspaper reported.

The banks - Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce  and National Bank of Canada - intend to spell out their concerns this week in a public letter, Canada's Globe and Mail newspaper said in a report posted on its website.

The list excludes Royal Bank of Canada, the country's biggest bank, as well as the Bank of Montreal, the paper said.

Last month, the London Stock Exchange said it planned to take over the TMX Group, operator of the Toronto Stock Exchange, in a C$3.1 billion ($3.2 billion) deal.