Business
Astral committed to Bell's deal
Oct 31, 2012 / 12:17 pm
Astral Media's CEO says he still wants his Montreal company to be bought by telecom giant Bell.
CEO Ian Greenberg says Astral is still committed to see if there is a way for the $3.4-billion transaction to go ahead.
Greenberg made the remarks on a conference call with financial analysts to discuss the company's fourth-quarter financial results.
Astral's CEO says, meanwhile, the company is assessing all of its alternatives.
The deal had been expected to close this fall, but the CRTC rejected the takeover, saying it wasn't in the best interests of Canadians.
Bell has asked the federal cabinet to get involved, but Ottawa has suggested there's little appetite to do so.
Astral's adjusted net earnings for the fourth quarter, excluding the cost of the Bell-Astral transaction and tax rate changes, rose to $54.3 million, up 14 per cent from $47 million a year earlier.
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