BCE may be shirking invitations from other private equity firms to accommodate Telus Corp, which is making waves in the race to own Canada's largest phone company, reports the Globe and Mail.

At present Montreal-based BCE is the centerpiece of three potential equity builders, headed by Ontario Teachers Pension Plan, Cerberus Capital Management LP and the Canada Pension Plan Investment Board.

Darren Entwistle, Telus CEO, may blow all competition out of the arena with $1 billion/year potential cost savings from a potential merger. He recently touted the business potential in controlling a dominant player in Canadian wireless and Internet services.

"We have an opportunity to create a legacy rather than waiting around for the inevitable foreign control of the Canadian telecom market," Entwistle said.

Initial bids for BCE are due at month's end.