Canada's Public Sector Pension Investment Board (PSP) is gearing up for a £6bn bid for mobile mast giant Arqiva

Shruti Tripathi Chopra
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PSP manages pension investments on behalf of the Royal Canadian Mounted Police (Source: Getty)

Bidders are lining up to snap up Arqiva, the company that owns more than 8,000 infrastructure and transmission towers in Britain, in the run up to a deadline this month.

The Public Sector Pension Investment Board (PSP), which boasts C$125.8bn (£70.7bn) of assets under management and manages investments for the Royal Canadian Mounted Police, is teaming up with London-based Arcus Infrastructure Partners to prepare a £6bn bid for the mobile mast giant.

Owned by the Canada Pension Plan Investment Board and Australian investment giant Macquarie, Arqiva is the only national provider of terrestrial television and radio broadcasting. It works with major broadcasters including the BBC, ITV and Sky, while mobile network operators such as BT-EE, Vodafone and O2 are also Arqiva's clients.

In May, PSP Investments picked London as its new European headquarters.

Read more: £71bn Canadian fund: London will be Europe's financial centre post Brexit

The president and chief executive of PSP Andre Bourbonnais told City A.M.: “There is a strong conviction within the senior management team and the board that London is and will remain the financial centre of Europe.

"We’re all aware of the possible implications of Brexit. But in our mind with the talent that is here, and the fact that London has been the financial centre of Europe for decades, we are committed to it and we think it is the best place for us."

Other bidders interested in snapping up Arqiva include Canadian property investor Brookfield, the owner of holiday operator Center Parcs, and Cheung Kong Infrastructure, controlled by Hong Kong billionaire Li Ka-shing, according to the Sunday Times.

Arqiva declined to comment. PSP Investments has been approached for comment.

Read more: 5G to come to central London in 201

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