Good news for wireless & competition in Canada! After the controversy that led Telus to drop their bid for Bell, the Ontario Teachers Pension Plan’s offer of $48.5 Billion was accepted by BCE on June 30. The deal is reported as the largest buyout ever in corporate Canada.

The OTPP is the organization responsible for administering pensions for public school teachers of Ontario. The OTPP also invests the assets of the plan. The plan is jointly sponsored by the Government of Ontario and the Ontario Teachers’ Federation. The OTPP is Canada’s second largest pension fund after the Caisse de dépôt et placement du Québec.

You can read the original Telus-BCE merger blog post here.