The Mexican Federal Economic Competition Commission and the Mexican Federal Telecommunications Institute have given regulatory approval of the proposed merger between Canadian Pacific and Kansas City Southern. Industry observers will now be turning their eyes onto US regulators, with the Surface Transportation Board just giving its approval of CP’s and KCS’ merger application. The board will accept testimonies from stakeholders through the first half of 2022, with a possible public hearing and final briefs occurring sometime after July 1. The board would issue its final decision 90 days after the evidentiary record closes. CP anticipates STB’s review to be completed sometime in the fourth quarter of 2022.