BCE Mobile Divests Clearnet Holdings

Business Wire, Dec 14, 1995

MONTREAL--(BUSINESS WIRE)--Dec. 14, 1995--BCE MOBILE(TSE, ME:BCX) BCE Mobile Communications Inc. (BCE Mobile) today announced that it has agreed to sell its holdings in Clearnet Communications Inc. The company reported that the sale of the 3.3 million Class A Non-voting Shares will be effected at a price of $20.00 per share, for a total transaction value of some $66.4 million. The sale is scheduled to close in January 1996.

The transaction fulfills BCE Mobile's publicly stated intention made in October 1994 to divest its interest in Clearnet Communications. At that time, the company said that to continue to hold a minority interest position in Clearnet, which will compete directly with BCE Mobile's own cellular business, was not consistent with its long-term strategic plans.

BCE Mobile is the Canadian leader in mobile communications. Its subsidiaries, operating under the Bell Mobility banner, provide cellular, paging, data and airline passenger communications services and are involved in the sale of cellular hardware and private radio systems. BCE Mobile is a publicly traded subsidiary of BCE Inc.

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