Regulatory hearing on BCE takeover set for 25 February

21 Dec 2007

Canadian telecoms regulator the CRTC has scheduled a public hearing on the pending takeover of BCE, the country’s largest telecoms group, for 25 February 2008. BCE, the parent of full-service telcos Bell Canada and Bell Aliant, is undergoing a CAD51.7 billion (USD48.5 billion) cash and debt buy-out by a consortium of funds led by the Ontario Teachers’ Pension Plan. BCE said it now expects the transaction to close in the first part of the second quarter of 2008, which is later than its original prediction that the deal would be wrapped up in the first quarter.