Private equity firm Cerberus, which struck a deal to buy a majority stake in Chrysler earlier this week, is reportedly planning on making an offer for BCE, which could lead to a three-way bidding war.

The Globe and Mail reports that Cerberus is looking for a way to buy the telecom company.

The newspaper says Cerberus originally partnered with the Caisse de dépôt et placement du Québec, but the pension fund instead joined a consortium that includes the Canadian Pension Plan Investment Board, and Kohlberg Kravis Roberts & Co.

The Ontario Teachers’ Pension Plan also announced it was considering making a bid for BCE.

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