Telus decides against BCE bid

Canada’s second largest full-service telecoms operator Telus has pulled out of merger talks with its larger rival BCE, parent of Bell Canada and Bell Aliant. In a short statement yesterday it said that it could not submit an offer because of ‘the inadequacies of BCE’s bid process.’ Three rival consortiums of domestic and foreign funds remain interested in a leveraged buyout of BCE, valued at around CAD32 billion (USD30 billion).