Chairman's Banff speech doesn't bode well for Bell-Astral, says research co.; decision imminent

TORONTO – Veritas Investment Research says the speech by CRTC chairman Jean-Pierre Blais to the 2013 Banff World Media Fest last week appears to foreshadow a negative ruling for Bell/Astral II and that investors should pay heed. In a research note to clients last week, Veritas noted that investors are betting that the answer from the CRTC will be affirmative, and not negative like the first go-around in October of 2012. It’s not a safe bet, says the company. “Astral Media Inc.’s class A shares are trading at approximately $48.50, compared to BCE Inc.’s offer price of $50 per share,”...