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Canada’s BCE to take unit Bell Aliant private

23
Jul
2014

(Reuters) – BCE Inc , Canada’s largest telecommunications company, said it would take Bell Aliant Inc private by buying the stake it does not already own in the company for about C$3.95 billion ($3.68 billion). BCE controls 44 percent of Bell Aliant, which offers telecom services in eastern Canada, and values the remaining stake at C$31 per share – a premium of about 10 percent to the stock’s close on Tuesday. “Privatizing Bell Aliant enhances our broadband investment strategy and capital markets objectives,” said BCE Chief Executive George Cope. Bell Aliant shareholders can elect to receive either C$31 in cash, or 0.6371 of one BCE share, or C$7.75 in cash and 0.4778 of one BCE share for every share they own, the companies said.

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