MONTREAL – BCE Inc. announced Tuesday that it has been told by the Quebec Court of Appeal that its decisions on the appeals filed by disgruntled holders of Bell Canada debentures related to the company’s sale and other matters will be released at 7 p.m. on Wednesday, May 21.
The $52-billion leveraged buyout of BCE Inc. by a consortium led by the Ontario Teachers Pension Plan was challenged in the courts by Bell bondholders. The bondholders appealed five recent rulings by Quebec Superior Court Justice Joel Silcoff that sided with Bell.
The stock has recently traded at well below the $42.75 per share price paid under the deal, because of concerns that Citigroup wants to renegotiate the debt financing it’s providing the consortium of buyers.
BCE said it would post the decisions on its website at www.bce.ca, once they are public. They can be accessed by clicking the “Privatization of BCE” banner on the homepage and going to the Resources section.
