Telus announced that it was dropping its bid to acquire BCE Inc, the parent company of Bell Wireless due to its unhappiness with the bid process. Telus issued a short press release that explained that The inadequacies of BCE’s bid process did not make it possible for TELUS to submit an offer.
A Telus-BCE merger would have faced significant scrutiny from Canadian competition authorities as it would have immediately given the merged company about 11 million wireless customers compared to just under 7 million for its next largest competitor, Rogers Wireless.
Telus has not ruled out resuming negotiations if the bid process is amended to eliminate the issues it has faced to date.