Canada's largest telecom in talks for private equity buyout

0 Comments | AFP, April, 2007

OTTAWA (AFP) — Bell Canada Enterprises announced Tuesday it is negotiating with a group of Canadian equity funds interested in a buyout of the country's largest telecom firm.

In a statement, BCE said it had "entered into discussions with a group of leading Canadian pension funds to explore the possibility of taking the publicly traded company private."

The group is led by the Canada Pension Plan Investment Board, Quebec's Caisse de Depot and Canada's Public Sector Pension Investment Board.

Kohlberg Kravis Roberts Co., a leading US private equity firm, also would join the Canadian-led consortium as a minority partner, BCE said.

The aim of any possible transaction is to "deliver further value to shareholders," the company said.

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