December 7, 2012 / 9:58 PM / 5 years ago

Canada dollar firms after source says CNOOC bid for Nexen approved

TORONTO (Reuters) - The Canadian dollar firmed to C$0.9887 against the U.S. currency after a source familiar with the matter told Reuters that a C$15.1 billion bid from China’s CNOOC Ltd (0883.HK) for Nexen Inc NXY.TO had been approved by Canada’s federal government.

The resource-linked currency had been trading at around C$0.9908, or $1.0093, just before the news.

Reporting by Alastair Sharp

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