Consistent with its owners' wishes, the Globe and Mail is oblivious to the CRTC:

I guess it's difficult to report accurately on the takeover of BCE by Teachers’ when you work for the Globe and Mail, or any part of the larger CTVglobemedia empire.

After all, this acquisition involves the takeover of one your 20% owners by another 20% owner. If that doesn’t seal your fate as an independent reporter, then the fact that the CEO’s of the other two owners (Torstar Inc and Woodbridge) each have written letters of support to the CRTC endorsing the sale of one of their partners to the other partner.

No doubt they are both looking to add to their CTVglobemedia positions after the sale goes through and BCE has a $38 billion mountain of debt to contend with, for which their stake in CTVglobemedia will be the first to go, along with Jean Monty’s grand vision of “convergence”.

If that wasn’t enough, the CEO of CTVglobemedia also sent in a letter of support to the CRTC.

The fact that none of these letters from Ivan Fecan, Geoff Beattie or Rob Prichard even touched on the issue and policy objectives of the Acts of Parliament that the CRTC is duty bound to uphold, only shows the low regard these folks hold for the CRTC and the greater public good that is involved.

If they are so fond of BCE becoming a junk bond debt ridden issuer, then they should immediately follow suit. Apparently it would render them more competitive and able to deliver lower cost services to their customers?

Their letters of intervention amount to comments to the effect that “Teachers’ rocks”. See for yourself

Which brings us back to today’s Globe and Mail reportage , and their denial of the important “gate keeping” role played by the CRTC. How credible is it for Derek Decloet to write in today’s Globe:

“The risks clouding this takeover are three: The bondholders could win their lawsuit in Quebec Superior Court; the buyers, led by the Ontario Teachers' Pension Plan, could walk away; or the banks, led by battered Citigroup, could break their agreement to fund the deal.”

Again, see for yourself

Is the Globe oblivious to the CRTC or just plain oblivious at large? And just who exactly is perhaps "lying'?

DEREK DeCLOET
February 7, 2008
Why BCE deal makers refuse to hang up
Sometimes, the stock market lies.

The market is telling us the BCE takeover is in deep trouble. Even after a rally yesterday, the stock price is $34.90, or $7.85 a share below the offer. The potential profit for arbitragers, if the deal closes in late spring, is better than 60 per cent, annualized.

Mama warned you about returns like these. They never come without risks. But are the hurdles to this deal as great as the numbers suggest?

The risks clouding this takeover are three: The bondholders could win their lawsuit in Quebec Superior Court; the buyers, led by the Ontario Teachers' Pension Plan, could walk away; or the banks, led by battered Citigroup, could break their agreement to fund the deal.