CCR Short Takes
News | 06/22/2000 4:00 am EDT
Quebecor says it won't sweeten Videotron offer
Quebecor Inc says its $5.9-billion proposal to take over Groupe Vidéotron ltée will remain as it is, until a court rules on the right of the Caisse de depot et placement du Quebec to block a rival arrangement with Rogers Communications Inc. Videotron's controlling shareholder, the Chagnon family, is contesting the Caisse's right under an agreement between the two, saying the pension fund manager did not act in good faith when it worked out a deal with Quebecor. Vidéotron founder Andre Chagnon, whose family owns 72% of the company, said in a statement released last week that he would not sell at all rather than sell out to Quebecor and the Caisse.