Bell Canada denying rumors of takeover
updated 11:20 am EDT, Fri April 6, 2007
Bell Can. denies takeover
Responding to newspaper reports, Bell Canada has denied reports that it is looking for a buyout from a private equity firm. Bell is the one of the largest media providers in Canada, running not only wireless and landline phone services, but Internet provision and satellite TV as well. If the suggested deal were to go forward, Bell would be acquired by the New York-based Kohlberg Kravis Roberts & Co. in a deal worth $30 billion CAD -- considerably more than Bell's estimated $24 billion market cap. Regulations on foreign ownership, however, would likely block KKR from owning more than a minor stake in Bell. [via Light Reading]
