In a line driver/receiver circuit where the line driver is connected with its output terminals to a load for supplying a transmit signal thereto and where the receiver is connected with its input terminals to the load for simultaneously receiving a receive signal therefrom, the transmit signal on the input terminals of the receiver is canceled by connecting the output terminals of the line driver to the load via equal complex sense impedances of an impedance value that is much smaller than the impedance value of the load impedance to match the load impedance, connecting the input terminals of the receiver to the load via equal first resistors and to respective output terminal of the line driver via equal second resistors, and providing transconductance amplifiers to sense the voltage across the sense impedances and supply corresponding currents to respective input terminal of the line driver.