A week after announcing it would begin discussions with BCE about a possible combination, Telus has decided it won’t make a bid for its rival.
“The inadequacies of BCE’s bid process did not make it possible for Telus to submit an offer,” says a press release issued by the company.
The Caisse de dépôt et placement du Québec has also announced that it has withdrawn from the consortium led by the Canada Pension Plan Investment Board. The Globe and Mail also reports that Onex has also pulled out of the same group because of concerns about the bid process.
And media reports say the Ontario Teachers’ Pension Plan planned to submit a bid for the telecom company.
Check out our web-exclusive feature, The battle for BCE. To read it, click here.
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