01:26:36 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 870,700,037
Close 2017-02-16 C$ 58.60
Market Cap C$ 51,023,022,168
Recent Sedar Documents

Globe says BCE's MTS takeover cleared to close

2017-02-16 09:06 ET - In the News

Also In the News (C-MBT) Manitoba Telecom Services Inc
Also In the News (C-RCI) Rogers Communications Inc
Also In the News (C-T) Telus Corp (2)

The Globe and Mail reports in its Thursday, Feb. 16, edition that BCE's $3.1-billion takeover of Manitoba Telecom Services has finally cleared to close on Wednesday. The Globe's Christine Dobby writes that as part of the government approval process, BCE agreed to divest wireless airwaves and subscribers to Xplornet Communications, enabling the rural Internet provider to start selling mobile services in Manitoba. BCE will move from fourth in the province's wireless market to first, with 470,000 subscribers after the deal closes. Ottawa hopes this latest wireless entrant in Xplornet will be enough to put a check on the power of BCE and its fellow national carriers, Telus and Rogers Communications. BCE will have to help its new rival get started by giving it spectrum licences that cover the entire province plus access to cell towers and roaming services, and helping Xplornet supply customer handsets for a period of time. BCE boss George Cope said those were the kind of concessions "we haven't seen before," adding, "I think that helps facilitate their entry into the market." The Competition Bureau and the federal Department of Innovation, Science and Economic Development approved the deal on Wednesday.

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