BCE ACQUIRES EBI AS PART OF OFFER TO PURCHASE CTV
MONTREAL, Québec, April 5 /CNW/ - BCE Inc. announced today that some
1.77 million Class X voting and 6.49 million Class Y non-voting shares of
Electrohome Broadcasting Inc. (EBI) - representing 98 per cent of the voting
shares and 98 per cent of the non-voting shares outstanding - have been
tendered under BCE's offer mailed to EBI shareholders March 14.
The offer to purchase all outstanding shares of EBI - which expired April
4 - is associated with BCE's offer to purchase all outstanding shares of CTV
that was mailed to CTV shareholders also on March 14. EBI owns seven million
shares of CTV representing 11.6 per cent (fully diluted) of CTV's outstanding
shares.
BCE has taken up and is paying for the EBI shares tendered under the
offer. BCE will exercise its compulsory acquisition rights to acquire those
EBI shares not tendered
BCE is Canada's largest communications company. Through its operations
in communications services, BCE provides residence and business customers in
Canada with wireline and wireless communications products and applications,
satellite communications and direct-to-home television services, systems
integration expertise, electronic commerce solutions, Internet access and
high-speed data services, and directories. Abroad, through Bell Canada
International's investee companies, BCE provides communications services to
nearly 6 million customers in Asia and Latin America. BCE also has an
extensive international presence through Teleglobe, an international
telecommunications carrier. BCE shares are listed in Canada, the United
States and Europe.
Note:
Certain statements made in this press release, which describe BCE's
intentions, expectations or predictions, are forward-looking and are subject
to important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events. Factors
which could cause results or events to differ from current expectations
include, among other things: the impact of rapid technological and market
change; general industry and market conditions and growth rates; international
growth and global economic conditions, particularly in emerging markets and
including interest rates and currency exchange rate fluctuations;
unanticipated impact of Year 2000 issues; and the impact of consolidations in
the telecommunications industry. For additional information with respect to
certain of these and other factors, see the reports on Forms 6-K and 40-F
filed by BCE with the United States Securities and Exchange Commission. BCE
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
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For further information: Don Doucette, Corporate Communications,
(514) 786-3924; Maarika Paul, Investor Relations, (514) 870-2488, Web site:
www.bce.ca
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