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Canada: Bureau approves of $3.29B BCE/Astral merger, more hurdles to come

By  |  March 5, 2013
Canada: Bureau approves of $3.29B BCE/Astral merger, more hurdles to come

Canada’s Competition Bureau has conditionally approved of BCE Inc.’s $3.29 billion bid for Astral Media Inc., according to reports. BCE has amended its offer to authorities since first announcing the acquisition a year ago. The Competition Bureau has required that BCE must divest some pay- and specialty-television assets. Astral is the world’s largest supplier of pay-TV services in the English and French languages. Canada’s Radio-television and Telecommunications Commission rejected the deal last October; the two parties have announced a new submission to the CRTC and the body is expected to make an update on the case later this week.

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