MONTREAL-Bell Canada has offered to purchase for cash up to 15.8 million of the outstanding common shares of Aliant, the largest telecommunications company in Atlantic Canada, at a price of $18.40 per share. Such an acquisition would give Bell Canada, which already owns about 41 percent of the company, at least 51 percent of Aliant’s common shares.
Aliant includes the NewTel Communications, MTT, NBTel and Island Tel operating companies, each which have wireless divisions.
Aliant acknowledged receipt of the offer but said the company could not comment until the matter has been reviewed by its board of directors. The acquisition is subject to regulatory approvals.
