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.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers