Bell Aliant Inc, a regional telecom company in eastern Canada, agreed to lease access to part of its landline network to rival Bragg Communications Inc in order to win approval for an acquisition, the country's competition watchdog said on Wednesday. Bell Aliant agreed to a 20-year lease with Bragg's Eastlink covering much of the remote footprint of O.N. Tel Inc, known as Ontera, the federal Competition Bureau said in a statement.The watchdog had expressed concerns the deal would create a monopoly and lessen competition, given Bell Aliant and Ontera own and operate the only two telecom networks connecting 16 remote Ontario communities.The Ontario government agreed to sell Ontera, the communications arm of the provincial Ontario Northland Transportation Commission, to Bell Aliant for C$6 million ($5.37 million) in cash in April.Bell Aliant is itself in the process of being acquired by its biggest shareholder, BCE Inc, for C$3.9 billion.
Bell Aliant Inc. through its subsidiaries is a regional communications service provider. Shares of BA fell by 0.03% or $-0.01/share to $30.60. In the past year, the shares have traded as low as $24.79 and as high as $31.78. On average, 863900 shares of BA.TO exchange hands on a given day and today's volume is recorded at 248382.
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 0.12% or $0.05/share to $42.81. In the past year, the shares have traded as low as $40.60 and as high as $46.70. On average, 750748 shares of BCE exchange hands on a given day and today's volume is recorded at 909045.
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 fell by 0.1% or $-0.05/share to $47.84. In the past year, the shares have traded as low as $43.18 and as high as $51.09. On average, 1346270 shares of BCE.TO exchange hands on a given day and today's volume is recorded at 2310106.
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