Canada's broadcast regulator will open public hearings on May 6 on the proposed C$3 billion ($2.9 billion) acquisition of Astral Media by BCE Inc , the country's largest telecom company, and will focus on whether the revised deal is in the public interest.The regulator, the Canadian Radio-television and Telecommunications Commission (CRTC), rejected BCE's original takeover offer for Astral, a Quebec-based owner of specialty-TV channels and radio stations, last autumn, saying the deal would have given BCE inordinate influence."Given the nature and the size of the proposed transaction, the commission may wish to discuss the concentration of ownership and potential market dominance," the CRTC said in a notice of the May hearing posted on its website on Wednesday.In its revised bid for Astral, BCE has agreed to divest itself of a swathe of Astral's TV and radio services. Canada's Competition Bureau approved the new bid on Monday.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE traded higher by 0.11% or $0.05/share to $45.62. In the past year, the shares have traded as low as $39.12 and as high as $45.92. On average, 864288 shares of BCE exchange hands on a given day and today's volume is recorded at 232717.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE traded higher by 0.49% or $0.23/share to $47.08. In the past year, the shares have traded as low as $39.34 and as high as $47.16. On average, 1434310 shares of BCE.TO exchange hands on a given day and today's volume is recorded at 504065.
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