Telus courting Bell Canada
Canadian operator Telus has revealed that it is in early discussions over the potential acquisition of compatriot communications firm Bell Canada Enterprises (BCE).
Bell had previously announced its intention to review all strategic alternatives with a view to further enhance shareholder value. The review is expected to be completed by the third quarter.
The two carriers anticipate that a combined entity would rival international telcos in other mature markets.
“Telus believes the combination of the two businesses would represent a compelling strategic and financial opportunity for all BCE and Telus stakeholders. It would be an all Canadian solution for both immediate and long-term value creation,” said Darren Entwistle, president and CEO of Telus.
Following the due diligence process, should the two firms agree to go ahead with the deal, they will need to seek full shareholder support and regulatory approval.