MONTREAL, Quebec, June 5 /CNW Telbec/ - BCE Inc. today announced the
Board of Directors has deferred its decision as to whether it will declare a
dividend on the company's common shares for the second quarter of 2008.
The amount of $294 million, that would represent the quarterly dividend
on the common shares if it were declared, will be retained by the company as
BCE works to complete its previously announced transaction to sell the company
to an investor group led by Teachers' Private Capital, the private investment
arm of the Ontario Teachers' Pension Plan, Providence Equity Partners Inc.,
Madison Dearborn Partners, LLC, and Merrill Lynch Global Private Equity.
The Board expects that a decision regarding the declaration of a dividend
for the second quarter of 2008 will be made by late June, which if declared,
would allow payment of the second quarter dividend in mid-July.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements relating to the
proposed privatization of BCE, legal proceedings related thereto and other
statements that are not historical facts. Such forward-looking statements are
subject to important risks, uncertainties and assumptions including, in
particular, the inherent uncertainty regarding the conduct, outcome and timing
of any litigation. The results or events predicted in these forward-looking
statements may differ materially from actual results or events. As a result,
we cannot guarantee that any forward-looking statement will materialize.
The timing and completion of the proposed privatization transaction is
subject to a number of terms and conditions, including, without limitation:
(i) satisfaction of the conditions to the approvals of the Canadian
Radio-television and Telecommunications Commission and the Minister of
Industry, (ii) necessary court approval, and (iii) certain termination rights
available to the parties under the definitive agreement dated June 29, 2007,
as amended, governing the terms of the transaction. The conditions to these
approvals may not be satisfied, the other conditions to the transaction may
not be satisfied in accordance with their terms, and/or the parties to the
definitive agreement may exercise their termination rights, in which case the
proposed privatization transaction could be modified, restructured or
terminated, as applicable. Failure to complete the proposed privatization
transaction could have a material adverse impact on the market price of BCE's
The forward-looking statements contained in this news release are made as
of the date of this release and, accordingly, are subject to change after such
date. Except as may be required by Canadian securities laws, we do not
undertake any obligation to update or revise any forward-looking statements
contained in this news release, whether as a result of new information, future
events or otherwise. Additionally, we undertake no obligation to comment on
expectations of, or statements made by, third parties in respect of the
proposed privatization transaction. For additional information with respect to
certain of these and other assumptions and risks, please refer to BCE's 2007
annual MD&A dated March 5, 2008 included in the Bell Canada Enterprises 2007
Annual Report, BCE's 2008 First Quarter MD&A dated May 6, 2008, as well as to
the definitive agreement dated June 29, 2007, as amended, and BCE's management
proxy circular dated August 7, 2007, all filed by BCE with the Canadian
securities commissions (available at www.sedar.com) and with the U.S.
Securities and Exchange Commission (available at www.sec.gov). These documents
are also available on BCE's website at www.bce.ca.
About BCE Inc.
BCE is Canada's largest communications company, providing the most
comprehensive and innovative suite of communication services to residential
and business customers in Canada. Under the Bell brand, the Company's services
include local, long distance and wireless phone services, high-speed and
wireless Internet access, IP-broadband services, information and
communications technology services (or value-added services) and
direct-to-home satellite and VDSL television services. BCE also holds an
interest in CTVglobemedia, Canada's premier media company. BCE shares are
listed in Canada and the United States.
For further information:
For further information: Pierre Leclerc, Media Relations, (514)
391-2007, 1-877-391-2007, firstname.lastname@example.org; Thane Fotopoulos, Investor
Relations, (514) 870-4619, email@example.com