Canada’s PSP Investments, with around C$136 billion (€92bn) of assets under management, is reportedly leading a handful of potential buyers for the UK’s Arqiva, which holds a near monopoly on broadcast and transmissions for British terrestrial TV companies. Arqiva is also a major player in the supply of connectivity for many of the UK’s cellular operators.

PSP Investments looks after pension funds for Canada’s armed forces and the Royal Canadian Mounted Police, as well as other public bodies.

If the deal goes through it will mean one Canadian pension fund selling to another. Currently Arqiva is owned by Canada Pension Fund and Australian investment giant Macquarie.

The Sunday Times reported that other interested parties prepared for the £6 billion (€6.84bn) price tag includes yet another Canadian player, Brookfield, which owns the Center Parcs holiday sites, and Cheung Kong Infrastructure, controlled by Hong Kong tycoon Li Ka-shing, the owner of mobile network Three, are also in the running, says the newspaper.

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