Cable / Telecom News

Supreme Court says okay to BCE buyout


OTTAWA – Canada’s highest court ruled on Friday that the planned $52-billion leveraged acquisition of BCE can go ahead. The Supreme Court of Canada decision was made public at 4:30 p.m. ET, but without any reasons given. They will be released within six months. Some disgruntled Bell bondholders were trying to block the deal, and had successfully convinced a Quebec Court of Appeal to rule in their favour. But the Supreme Court overturned the Appeal Court’s decision and paved the way for a consortium, including the Ontario Teachers Pension Plan, to acquire Bell Canada’s parent company. As requested by BCE, the judicial...