Public hearing on BCE’s Astral takeover begins

12 Sep 2012

The Canadian Radio-television and Telecommunications Commission (CRTC) announced on 10 September 2012 the beginning of a public hearing on the proposed CAD3.3 billion (USD3.39 billion) takeover of broadcasting group Astral by Bell Canada Enterprises (BCE). The CRTC deemed the review necessary as it said: ‘This is a large transaction that could have a significant impact on the Canadian broadcasting sector and the broader communications system.’ Prior to the hearing commencing, several of BCE’s telecoms and broadcasting rivals lodged their opposition to the proposed takeover on anti-competitive grounds.