BCE complies with CRTC requirements; court will hear appeal June 17

By Lisa Kerner

Charlotte, N.C., June 3 - BCE Inc. said it complied with measures requested by the Canadian Radio-television and Telecommunications Commission (CRTC) related to the company's proposed privatization.

At the CRTC's request, BCE filed an amended principal investor agreement with the commission, noting it plans to direct an additional portion of the tangible benefits payable as a result of the transaction to the BCE New Media Trust, according to a BCE news release.

On July 2, 2007, an investor group led by Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, 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.

The Supreme Court of Canada is set to hear an appeal in the matter on June 17 after BCE's plan of arrangement was suspended by the Quebec Court of Appeal.

Investors holding Bell Canada debentures complained the arrangement to privatize BCE was unfair, believing they would be forced to guarantee $34 billion in loans without receiving anything in return, a prior news release stated.

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

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