Telus drops out of BCE bid

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BellThe impending merger between Telus and BCE has been called off. Telus has decided not to make a bid for BCE, cryptically citing BCE’s “inadequate” review process. The Canadian government is probably issuing a sigh of relief now that they won’t have to go through all the paperwork of maintaining a balanced wireless market, even though Prime Minister Stephen Harper had vouched to stand clear of the bidding process. Guess it’s kind of a moot point now. The Ontario Teachers’ Pension Plan and Providence Equity Partners are next in line to bid on BCE, so we’ll see what happens there once July rolls around.