BCE files for regulatory approvals of acquisition by investor group led by Teachers’, Providence and Madison
BCE today announced that all necessary filings have now been made for regulatory approval of the proposed acquisition of BCE by an investor group led by Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC. These include filings with Industry Canada, the Canadian Radio-television and Telecommunications Commission, the Canadian Competition Bureau, the U.S. Department of Justice and Federal Communications Commission and six U.S. states. A definitive agreement for the transaction was reached on June 30, 2007.
BCE is Canada’s largest communications company, providing the most comprehensive and innovative suite of communication services to residential and business customers in Canada. Under the Bell brand, the Company’s services include local, long distance and wireless phone services, high-speed and wireless Internet access, IP-broadband services, information and communications technology services (or value-added services) and direct-to-home satellite and VDSL television services. Other BCE holdings include Telesat Canada, a pioneer and world leader in satellite operations and systems management, and an interest in CTVglobemedia, Canada’s premier media company. BCE shares are listed in Canada and the United States.
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