The Lima Stock Exchange has resumed the process of integration with the Chilean and Colombian exchanges, The Wall Street Journal reports. On Dec. 20, 2010, the Peruvian exchange suspended talks due to its failure to pass a law standardizing capital-gains taxes.
The move follows Congress’ decision to pass a bill to standardize capital-gains taxes at 5%. The new exchange, which will be called Integrated Latin American Market (MILA), will have an initial trading volume of about $300 million a day and will become the biggest exchange in the region by listed companies, with 563.
Click here for the story from The Wall Street Journal.