Ruling on BCE today
The CRTC will announce a decision at 4 p.m. today, after NorthAmerican markets close, if the takeover bid headed by the OntarioTeachers' Pension Plan with financing from private U.S. investmentfirms meets federal regulations.
Telecommunications giant BCE Inc. will learn today whether the
largest takeover in Canadian history will get a green light from the
federal regulator as doubts surfaced about the financing of the deal.
The CRTC will announce a decision at 4 p.m. today, after North
American markets close, if the takeover bid headed by the Ontario
Teachers' Pension Plan with financing from private U.S. investment
firms meets federal regulations.
"It will be a comprehensive decision," said CRTC spokesman Denis Carmel. "It will be announced after markets close."
The decision will likely have an impact on BCE's shares, which came
under pressure yesterday as tight credit market conditions put the
$19.5 billion US buyout of U.S. radio station owner Clear Channel
Communications on the brink of collapse.
This refreshed doubts about the estimated $52-billion buyout of BCE
at $42.75 a share, sending the telecom’s stock down 97 cents to $35.72
on the Toronto Stock Exchange.