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BCE confirms Telus merger talks

Briefs | 06/21/2007 10:53 am EDT

Confirming a rumour that started weeks ago, BCE Inc. announced June 20 that it's talking to BC-based telco Telus Corp. about merging. This is part of the company's review of "strategic alternatives…to further enhance shareholder value," according to a press statement. As usual, BCE said "no assurances can be provided that any offer…will be accepted." Earlier this month the Bell Canada parent company confirmed that a consortium including Teachers' Private Capital and Providence Equity Partners Inc. had entered into discussions. In May BCE said a consortium including Cerberus Capital Management LP and a group of Canadian investors were involved. And in April BCE put to rest the sale rumours by confirming that it was discussing with the Canada Pension Plan Investment Board, the Caisse de dépot et placement du Québec and Canada's Public Sector Pension Investment Board.

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