Bell Canada fights time, financing challenges to deal

Bell Canada filed a request with the Supreme Court of Canada this week to expedite the top court's hearing of Bell Canada's appeal of a lower court ruling that blocked the $52 billion takeover of the company. The Quebec court of Appeals had ruled the deal was not fair to Bell Canada bondholders, who had filed a lawsuit months earlier attempting to block the deal. If the Supremes accept the request for speedier attention, the case could be heard by June 17, with the possibility of a ruling before the June 30 deadline Bell Canada need to meet to get the buyout done.

Legal challenges are not the only challenges the deal faces, of course. The banks that were to supply financing terms for the acquisition want to renegotiate those terms with the buyers--the Ontario Teachers Pension Plan and three private equity firms.

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