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TELUS opposes Bell's proposed Astral acquisition

TELUS has objected to a recent Bell takeover bid for Astral Media.

15 August 2012

Telecommunications company TELUS has voiced its objections to a potential takeover of Astral Media by Bell, a move that could see mergers and acquisitions advisers put on standby.

TELUS, which has $10.6 billion (£6.7 billion) in annual revenue, has filed a complaint to the Canadian Radio-television and Telecommunications Commission claiming the deal would limit competition and give Bell overwhelming market power.

It is not the first firm to counter the acquisition, with a coalition of Eastlink, Quebecor and Cogeco forming the Say No to Bell group.

President and chief executive officer of TELUS Darren Entwistle said if the takeover were to go ahead, it would be the equivalent of one US company owning Verizon, HBO, Direct TV, CBS, ESPN, MTV, Comedy Central and many other channels.

"All Canadians should be able to access the content they want through the provider they choose; we all benefit from competition between a variety of organisations," he explained.

Posted by Ron Maverick

Source: TELUS press release, August 14th

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