MONTREAL – Bell Canada said today that despite a story in the Globe and Mail this morning speculating a U.S. private equity firm may take the telco private, that the company is not currently in any such negotiations, nor does it intend to go that route.
“At the request of the TSX Market Regulation Services, BCE today issued a statement to confirm the fact that there are no ongoing discussions being held with any private equity investor with respect to any privatization of the Company or any similar transaction. BCE further stated the company has no current intention to pursue such discussions,” says the press release.
“As per the company policy, BCE will not comment further on rumours and speculation.”
Bell shares shot up over 5% on trading this morning after the story broke.
The story sent the Communications, Energy and Paperworkers Union into a lather, however, which said any potential takeover by American interests is "a direct threat to thousands of jobs, to Canadian economic sovereignty and to our cultural heritage,” says the union release.
"I think Prime Minister Harper should send an unequivocal message to the investment community that he will not allow foreign interests to take control of these key economic and cultural development industries," said CEP president David Coles.
