The consortium led by the Ontario Teachers’ Pension Plan now expects to complete the privatization of BCE sometime in the third quarter.
It had expected to finish the deal before the end of June, but there was a delay because of legal challenges by bondholders who claimed the deal was unfair to them.
On Friday, the Supreme Court of Canada overturned a Quebec Court of Appeal ruling, which ruled in favour of the bondholders.
The Canadian Radio-television and Telecommunications Commission’s final approval of the acquisition was approved late Friday. Industry Canada is expected to approve the deal sometime this week.
“With this decision by the Supreme Court and the confirmation of regulatory approvals, we are now in a good position to complete the transaction,” says Gordon Currie, BCE’s chairman. “We expect all parties to the transaction will honour their commitments.”
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