CRTC attaches conditions to approval of BCE takeover

OTTAWA – The CRTC has given its approval, subject to certain conditions, to the purchase of BCE Inc.’s broadcasting assets by the group headed by the Ontario Teachers’ Pension Plan and three U.S. private equity firms. “The application proposed to privatize the country’s largest communications company and included significant foreign interest,” wrote CRTC Chair Konrad von Finckenstein in the decision. “Consistent with previous decisions, we have imposed conditions to address our concerns relating to corporate governance. These conditions will ensure that control of BCE remains in Canadian hands once the transaction is completed.” The CRTC set out six major conditions:...