It is unlikely that Telus Corp. (NYSE:TU
) will completely close the door on a possible hostile bid for Bell Canada Inc. (NYSE:BCE
) when it reports second quarter results on Friday, says Jeffrey Fan at UBS Securities.
The analyst puts the chances of a rival offer at 25% or less, but insists that Telus’ management style “is to consider all options thoroughly.”
The confidence BCE management expressed in the financing commitment for its sale to a consortium led by the Ontario Teachers’ Pension Plan is consistent with his view, Mr. Fan told clients in a note.
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