The chief executive of OMERS, Michael Nobrega, expects the Ontario Teachers’ Pension Plan will make a competing offer to take BCE private.
He made the comments in an interview with the Business News Network last night.
Last month, Teachers’ said it was considering making a bid following the telecom company’s announcement that it was in non-exclusive talks with a consortium that includes the Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, the Public Sector Pension Investment Board, and Kohlberg Kravis Roberts & Co. to be taken private.
Currently, OMERS is sitting on the sidelines, but Nobrega says it would likely be involved in the deal if the consortium including KKR wins since it has funds in KKR. And if the consortium wins, OMERS will probably increase its exposure.
However, he says if another bidder wins BCE “and they offer us a position in the deal, we will consider that position.”
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