Canada’s largest telecom company BCE announced Wednesday that it would take regional competitor Bell Aliant private in a $3.68 billion takeover.
BCE’s plan involves purchasing the 56 percent of Bell Aliant it does not already own as the company looks to cut costs and expand services along the Atlantic region of the country.
According to BCE, the takeover will cut overlaps in public company costs and save the firm millions.
The deal remains subject to approval by Canada’s Competition Bureau, though reports say the nation’s Radio-Television and Telecommunications Commission will not need to sign off on the transaction.
Canada has been eyeing its telco industry in recent months as it looks to boost competition, cut consumer costs and encourage market growth. BCE currently competes with top rivals Rogers Communications and Quebecor for phone, Internet and television services.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández