Unitholders approve Bell Aliant's conversion to corporation

HALIFAX – Unitholders of Bell Aliant Regional Communications Income Fund approved the proposed conversion from an income trust to a corporate structure. Over 87% of the votes cast at the fund’s annual meeting on Wednesday were in favour of the conversion, the company said in a statement. The conversion, spurred by tax changes to income trusts that come in to effect in 2011, is expected to reduce administrative costs associated with a more complex trust structure, improve the comparability of financial reporting to its peers, and broaden the potential investor base.Upon being implemented, the transaction will result in the conversion...