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Monday, March 4, 2013

Canadian bureau approves C$3 billion BCE-Astral takeover, (NYSE: BCE), (TSE: BCE.TO)

Canada's Competition Bureau granted conditional approval on Monday for a C$3 billion ($2.9 billion) plan by BCE Inc to purchase Astral Media Inc , but the offer by Bell Canada's parent must still pass muster with the country's telecoms regulator. The regulator, the Canadian Radio-television and Telecommunications Commission, rejected BCE's first offer in October. It is expected to reveal details of a subsequent offer this week when it sets a date for public hearings.Under a deal the Competition Bureau reached with Bell Canada, the company must make significant divestitures of Astral's ownership interests in a number of pay and specialty television channels.

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 642403.

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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