Tag: bce

Bell BlackBerry Tour 9630 now available for $249.95 on 3 year contract

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Bell has officially announced the BlackBerry Tour 9630! The Tour is the latest BlackBerry device and it operates on both EVDO and HSPA high speed networks globally. The device is now available to purchase online and will be available at Bell Mobility stores nationally starting July 11th.

Want to know more about the BlackBerry Tour? Check out our review of the TELUS Tour 9630.

Click through for the full press release

Telus posts Q2 results, drops out of BCE bid

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TelusIt was looking uncertain that Telus would be completely dropping out of the bidding war for Bell, but after announcing its Q2 report, they’ve put the deal to bed. The Globe and Mail says that federal regulations from right here in Ottawa could have soured the deal; in order to avoid a monopoly situation, Telus would have had to sell off some of their assets to counterweight the acquisition of Bell.

As for the quarterly results themselves, which announced an profit drop from $253.1 million to $356.6 million, Telus’ CEO Darren Entwistle wasn’t exactly happy.

“I am less than satisfied with these quarterly results. While wireless revenue and subscriber growth of 11 per cent and wireline data revenue growth of eight per cent remained robust, earnings did not meet expectations. This was largely caused by excess costs associated with the implementation of the new wireline billing and client care system as well as from the introduction of wireless number portability and the commercial failure of the launch of AMP’d Mobile. We are dedicated to much better performance in coming quarters, as evidenced by the reiteration of our public guidance for 2007.”

Bondholders angry over Bell acquisition

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Gavel So, just when everything was looking pretty nicely squared away with the Bell buyout, and the Ontario Teachers’ Pension Plan Union was ready to drop $C51.7 billion on the deal (counting debt), Bell bondholders have started getting up in arms over the acquisition. Shareholders are laughing all the way to the bank with a 25% premium, but bondholders are seeing their staple 6.1% coupon for 2035 bond drop 23%.

When rumors of a private-equity deal for Bell Canada surfaced earlier in the year institutional bondholders began a letter-writing campaign to the company making clear they would “vigorously defend our rights as provided in the trust indentures” that govern the terms of the bonds. The authors of the letters included Canadian Imperial Bank of Commerce, Sun Life Financial, Manulife Financial and Phillips, Hager & North Investment Management, according to the National Post.

Those are some big companies who aren’t too happy about the situation. Is it too late for Bell to call the whole thing off, or are they going to risk litigation by the angry bondholders?

EVDO rev. A coming to Telus with ninjalike covertness

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NinjaA Canadian carrier being quiet about new services? I’m SHOCKED. According a tipster at BGR, Telus should have their EVDO network upgraded by Monday or Tuesday. While Telus might not be getting their mitts on Bell, they’re still a major player in the Canadian wireless game. If there are any Telus users in the house who can confirm the transition, feel free to shoot us an e-mail at info at blackberrycool.

Telus still interested in BCE

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TelusAlthough Bell’s acquisition should have all been settled by now, Telus still wants to have the option to change their mind on making a bid. That might be a little tricky, considering the Ontario Teachers Pension Plan Board has already dropped $35.1 billion and BCE has accepted the offer. Regardless, the possibility of Telus still getting in on the action isn’t entirely out of the question.

Bell Canada chief executive Michael Sabia acknowledged the possibility of a hostile bid [by Telus] when he told reporters on Saturday that the company’s board “has a fiduciary obligation to continue to be open to superior proposals.”

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.