BCE shoots down rumors of minority investment by Teachers' Private Capital

By Lisa Kerner

Charlotte, N.C., Dec. 5 - BCE Inc. denied there was an offer made for a possible minority investment in the company by some or all of the members of an investor group led by Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, and affiliates of Providence Equity Partners Inc., Madison Dearborn Partners, LLC and Merrill Lynch Global Private Equity.

In June 2007, the investor group agreed to acquire all of the common shares of BCE not owned by Ontario Teachers for C$42.75 each and all of the company's preferred shares at between C$25.25 and C$25.87 each.

BCE said it is continuing to work with KPMG and the investor group to satisfy all closing conditions.

The going-private transaction is expected to close on Dec.11, it was previously reported.

BCE is a Montreal-based communications company that provides telephone, internet, television and information services.

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