Canada's Competition Bureau conditionally approved a C$3 billion ($2.9 billion) plan by BCE Inc, the country's biggest telecom company, to purchase Astral Media Inc on Monday, but the offer must still pass muster with the telecom regulator.The competition watchdog said its approval is contingent on BCE, a growing broadcaster, selling a range of Astral's pay- and specialty-TV channels, including several Disney channels.In addition, the bureau said that BCE, whose telecom operations use the Bell Canada name, must not impose "restrictive bundling requirements" on any rival provider seeking to carry Astral's flagship movie channels in either English or French.In a separate statement, BCE said Corus Entertainment Inc would buy Astral's share of six television joint ventures as well as two radio stations for C$400.6 million, and that a process in under way to sell more assets.
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 0.29% or $0.13/share to $45.46. In the past year, the shares have traded as low as $39.12 and as high as $45.68. On average, 855349 shares of BCE exchange hands on a given day and today's volume is recorded at 643595.
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 0.39% or $0.18/share to $46.75. In the past year, the shares have traded as low as $39.34 and as high as $46.68. On average, 1421690 shares of BCE.TO exchange hands on a given day and today's volume is recorded at 1186657.
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