The London Stock Exchange has abandoned plans to merge with the owner of the Toronto Stock Exchange after concluding not enough of the Canadian group’s shareholders would back the deal.

London Stock Exchange vowed to press ahead with a merger with its Toronto counterpart today, despite the emergence of a rival Canadian bidder.

A rival bidder was today poised to scupper a £4bn (€4.59bn) merger deal between the London Stock Exchange and its Toronto counterpart.

The London Stock Exchange is in advanced talks over a potential merger with Canadian bourse TMX.

The London Stock Exchange today announced a deal to acquire its loss-making rival Turquoise.

The new head of the London Stock Exchange today said the bourse had cut 133 jobs as rivals eat away at the business.