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(Reuters) - TMX Group Inc (X.TO), operator of the Toronto Stock Exchange, said it bought a 16 percent stake in the Bermuda Stock Exchange for an undisclosed amount.
TMX Chief Executive Tom Kloet will join the board of Bermuda Stock Exchange.
A Canadian financial consortium is planning to take over TMX Group and bring most of the country's major exchanges under a single roof.
Reporting by Aftab Ahmed in Bangalore; Editing by Joyjeet Das