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Canada: Astral could be broken up after blocked BCE deal

By  |  October 19, 2012
Canada: Astral could be broken up after blocked BCE deal

Canada’s Astral Media, owner of television, radio and outdoor-advertising assets, could be broken up and sold to several buyers, analysts said on Friday, after the country’s telecommunication regulator (CRTC) unexpectedly vetoed a takeover by BCE Inc. The C$3 billion ($3 billion) deal would give too much market power to BCE, making it the biggest telecom company in Canada. The completion regulator concluded that the proposal, which received faced fierce opposition from BCE’s competitors, including Quebecor Inc and Rogers Communications, was also not in the best interest of the country.

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