RE: Telus Out - ThankfullyThe talk now is that BCE will extend the bidding process due to the increasing problems the bidders are experiencing. Telus isn't out of it yet. From a news release today:
"The bidders don't appreciate the rush Bell and its advisors are forcing on the process," National Bank Financial analyst Greg MacDonald wrote in a research note.
"In our view, the bidders are attempting to buy more time to do due diligence as this is a major deal with multiple possible scenarios."
In his research note, MacDonald said investors shouldn't assume that Telus is no longer interested in Montreal-based BCE and that the company would now be sold to the Teachers consortium or the CPP group.
"We believe the Bell Canada board will feel obligated to extend the bidding deadline to accommodate the bidders and maximize the effectiveness of the auction process," he said."
A analyst interviewed on BNN made the same observation, that BCE will likely extend the review process to give the bidders more time.
TimeScape