BCE may get early appeal
In a victory for BCE Inc., the Supreme Court of Canada suggestedyesterday it may hear an appeal in three weeks of a lower courtdecision that threatens the $34.8 billion buyout of thetelecommunications giant.
In a victory for BCE Inc., the Supreme Court of Canada suggested yesterday it may hear an appeal in three weeks of a lower court decision that threatens the $34.8 billion buyout of the telecommunications giant.
In agreeing to BCE’s request to expedite the process of deciding on whether to hear the appeal, the high court ruled against debtholders who had said there was no rush.
The bondholders won an unexpected decision by the Quebec Court of Appeal last week that held the buyout was unfair to them. They dismissed BCE’s subsequent application for the Supreme Court to hold a speedy hearing by the June 30 deadline for the deal as “entirely artificial.”
The Supreme Court said that if it does decide to hear the appeal, it could be heard on the morning of June 17.