TMX Group buys 16 percent stake in Bermuda Stock Exchange

Wed Dec 21, 2011 9:38am EST
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(Reuters) - TMX Group Inc (X.TO: Quote), 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)