CRTC gives go ahead to BCE buyout - with conditions

28 Mar 2008

The Canadian Radio-television and Telecommunications Commission (CRTC) has given the green light to Ontario Teachers’ Pension Plan (Teachers) for its proposed CAD35 billion (USD34.4 billion) takeover of BCE, reports the Globe and Mail newspaper. The regulatory watchdog has, however, stipulated that Teachers makes several corporate governance changes to ensure control remains firmly in Canadian hands. One remaining hurdle to the deal is whether the banks financing the buyout will put up the money amid credit markets that have tightened dramatically since the deal was signed in June 2007.