BCE deal pushed back further

29 Apr 2008

BCE and the investor group led by Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, have announced that the telecoms regulator, the CRTC, has extended the deadline for the filing of documents relating to the proposed acquisition of BCE to 12 May, reports CNNMoney.com. ‘We continue to work with BCE to meet all the requirements for closing by the end of the second quarter,’ said Jim Leech, President and CEO of Teachers’, which leads a buyout consortium also including Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch Global Private Equity. The documents are required by the CRTC in connection with its 27 March decision approving, subject to certain conditions, the change of effective control of BCE and its licensees. BCE, the parent of telcos Bell Canada and Bell Aliant, expects the transaction to close before the end of the second quarter.