CRTC issues approval of acquisition of BCE by investor group led by Teachers', Providence, Madison Dearborn and Merrill Lynch

    MONTREAL, Quebec, March 27 /CNW Telbec/ - BCE announced today that the
proposed acquisition of BCE by 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 has received the approval of the Canadian
Radio-television and Telecommunications Commission, subject to certain
conditions being met.
    The only remaining regulatory approval required in connection with the
transactions is from Industry Canada. On March 7, 2008, the Québec Superior
Court approved BCE's plan of arrangement for the transaction and dismissed all
claims asserted by or on behalf of certain holders of Bell Canada debentures.
As a result of an appeal of that decision by the debenture holders, BCE now
expects the transaction to close before the end of the second quarter of 2008.

    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 completion of the proposed privatization transaction is subject to a
number of terms and conditions, including, without limitation: (i) approval of
Industry Canada and satisfaction of the conditions to the approval of the
Canadian Radio-television and Telecommunications Commission, (ii) resolution
of the appeals filed by the debentureholders with regard to the plan of
arrangement, and any related stay or injunction that would prevent closing
pending resolution of such appeals, 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. Industry Canada's approval
may not be obtained, the conditions to the approval of the Canadian
Radio-television and Telecommunications Commission 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 shares.
    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, 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
and with the U.S. Securities and Exchange Commission (available at These documents are also available on BCE's website at

    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, Bell Canada, Media Relations,
(514) 391-2007, 1-877-391-2007,; Thane Fotopoulos, BCE,
Investor Relations, (514) 870-4619,

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