The deal by a consortium led by the Ontario Teachers’ Pension Plan to take BCE private will likely be delayed because the Canadian Radio-television and Telecommunications Commission is planning to hold public hearings on the takeover, according to a newspaper report.
The Globe and Mail reports that the consortium tried to convince the CRTC that there was no need to have hearings because majority ownership would stay in Canada and it was an all-cash deal.
The acquisition might now close in April, instead of sometime during the first quarter of 2008 as originally planned.
BCE shareholders will vote on whether or not to accept the takeover bid in Montreal tomorrow.
For more about the BCE deal, check out our special section, The Rise of Private Equity. To read it, click here.
To comment on this story, email craig.sebastiano@rci.rogers.com.