BCE buyout would be "impossible" if Quebec court sides with bondholders: Teachers' Pension Plan

TORONTO – BCE Inc’s $51.7 billion privatization deal could be nixed if a Quebec Superior Court sides with some debtholders opposing the agreement, according to the Financial Report. The opposing bondholders, which include Manulife Financial Corp. and Franklin Templeton Investment Corp., are suing BCE Inc., saying they have the right to vote on and potentially block the “reorganization.” They are unhappy that the leveraged buyout has resulted in credit rating downgrades to BCE Inc. The Ontario Teachers’ Pension Plan, the player with the largest stake in the buyout, said it would be impossible to find the money if the Quebec...