BCE given more time to file documents needed for going-private deal

By Lisa Kerner

Charlotte, N.C., April 28 - BCE, Inc. said the Canadian Radio-television and Telecommunications Commission agreed to extend the filing deadline to May 12 for documents required in the proposed acquisition of the company by an investor group.

On March 27, the commission approved, subject to certain conditions, the change of effective control of BCE and its licensees.

BCE said the deal to take the company private is expected to close before the end of the second quarter.

Industry Canada has approved the proposed acquisition of BCE by the 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.

Under a July 2, 2007 agreement, the investor group will 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.

It was previously reported that the all-cash transaction is valued at C$51.7 billion, including C$16.9 billion of debt, preferred equity and minority interests.

On March 7, the Quebec Superior Court approved BCE's plan of arrangement and dismissed all claims by or on behalf of certain holders of Bell Canada debentures.

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

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