*BREAKING* Federal Government will NOT Intervene in Bell Takeover of Astral
Industry Minister Christian Paradis is giving the cold shoulder to any government intervention in the CRTC decision to block Bell's friendly takeover of Astral Media.
Paradis says the government won't get involved to reverse the CRTC's decision.
He says the CRTC operates at an arm's length from the government, its decision was clear and he respects the CRTC's ruling.
Paradis made his comments at the Canadian Space Agency south of Montreal.
BCE Inc. has said it will call on the federal cabinet to intervene, but a CRTC spokesperson has said a challenge would have to go to the Federal Court of Appeals rather than to the government.
The surprise decision by the CRTC was announced after stock markets closed Thursday and marked the first major ruling for newly installed commissioner Jean-Pierre Blais, who took over in late June.