CANADA - The C$99bn (US$85bn) Ontario Teachers Pension Plan (OTPP) has entered preliminary talks about forming a consortium for a $45bn takeover bid of Bell Canada Enterprises (BCE).
The fund, which is already the largest shareholder in BCE, has reportedly been in talks with La Caisse de Dépôt et Placement du Québec and the Canada Pension Plan to become major shareholder in the Canadian telecoms giant.
The fund has not confirmed claims it was in discussions with any particular private equity fund to be part of the consortium.
If this deal is successful, it will substantially bolster the fund’s image of being a major player in acquisitions and direct investments.
The OTPP acquired Telecom New Zealand’s Yellow Pages Group for NZ$2.24m (US$1.6bn) last month as part of a consortium which included CCMP Capital and Teachers’ Private Capital.
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