The investor group led by the Ontario Teachers’ Pension Plan and BCE have received more time from the Canadian Radio-television and Telecommunications Commission to file documents related to the proposed privatization.
They now have until May 12 to file the documents—an extension of about two weeks.
“We continue to work with BCE to meet all the requirements for closing by the end of the second quarter,” says Jim Leech, president and CEO of Teachers’.
The documents are requirement by the CRTC in connection with its March 27 decision approving, subject to certain conditions, the change of effective control of BCE and its licensees.
Last summer, BCE accepted a $52 billion takeover offer by the investor group, which also includes Providence Equity Partners and Madison Dearborn Partners.
For more background information on the deal, click here to visit our special section, The Rise of Private Equity.
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