HALIFAX – It appears that Bragg Communications, owners of eastern cableco EastLink will take Amtelecom as Bell Aliant allowed its bid for the midwestern Ontario telephone and cable company to expire on Wednesday afternoon. Bragg offered approximately $104 million, or $14.25 per unit for Amtelecom Income Fund on April 3rd. It was about 10% above what Bell Aliant offered for the company back in February – an offer that was spurned by Amtelecom`s board. Bragg`s bid still has to be formally approved by shareholders and regulators, but Amtelecom`s board has already given its stamp of approval.
