MEXICO CITY Feb 28 (Reuters) - Mexico's stock exchange has agreed to buy a small stake in Lima's bourse as part of a strategic venture to connect the two countries' capital markets, according to a regulatory filing by the exchange on Thursday.
The two exchanges will form a "strategic association" with a view to developing Mexico and Peru's stock and derivative markets among other businesses, the filing said.
Mexico's Bolsa Mexicana de Valores will buy 5.9 percent of the class A shares of the Bolsa de Valores de Lima , according to the filing.
The filing did not say how much the deal is worth and further details were not immediately available.
The agreement will bring Mexico's stock exchange closer to the Integrated Latin American Market (MILA) which allows cross-border trading of companies listed in Chile, Colombia and Peru.
The head of Mexico's stock exchange Luis Tellez had said in 2011 the exchange would be interested in joining MILA.
Mexico's bourse lists some of Latin America's biggest companies, including phone company America Movil and cement company Cemex, but unlike regional peer Brazil, it has struggled in recent years to attract new listings.
The Mexican exchange already has an agreement for derivatives trading with the Chicago Mercantile Exchange that offers Mexican investors access to CME contracts and CME customers access to Mexican derivative contracts.
Shares in Mexico's exchange closed up 1.44 percent at 31.15 pesos ($2.44), while shares in Lima's exchange, which trade infrequently, last closed on Feb. 22 at 10.30 Peruvian sol ($3.99).