BCE: No “Ongoing” Private Equity Discussions? No “Current” Private Equity intention?

17 Apr ’07

One just had to laugh at Sabia’s denial of private equity discussions a few weeks ago after the Globe initially reported the story – the denial was so carefully parsed and over-lawyered that if anything it served to prove the story, not deny it (except perhaps to Eric Reguly, who mysteriously said after the denial that Sabia had “made his message clear”, and to Tavia Grant and Andrew Willis of the Globe, who today called the development “a stunning twist”). The Globe today reported that BCE has confirmed the talks. Finally, the waiting is (nearly) over. This development has been self-evident since BCE announced its now defunct income trust plans – a clear sign at the time, to my mind, that BCE management had surrendered to the future, and was ready to pack up and go home.

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