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Business | 2007 | Jul | 1


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54,000 EMPLOYEES The Ontario teachers pension group - with assets of $106 billion in 2006 - invests and administers the retirement funds for Ontario's 167,000 teachers and 104,000 retired teachers
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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It has 18.2 million customer connections, including 5.8 million wireless subscribers, 8.6 million phone lines, 1.9 million Internet subscribers and 1.8 million satellite television subscribers
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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The cash portion of the deal is about $34.8 billion and gives the Teachers majority control of the company
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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The company operates the Bell ExpressVu satellite TV service
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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Montreal-based BCE (TSX:BCE), which has more than 54,000 employees, had annual revenue of $17.7 billion in 2006
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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Canada's largest telecom company, BCE Inc.is being acquired by an investment group led by the Ontario Teachers Pension Plan Board in the biggest corporate takeover in Canadian history, a cash and debt deal worth nearly $52 billion
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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Other BCE holdings include interests in CTVglobemedia, one of the Canada's biggest media companies.
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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The fund has major investments in numerous companies and sectors, including oil and gas, commercial real estate, infrastructure and financial services
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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The Teachers Pension Plan was already BCE's largest shareholder with a 6.8% stake
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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LITTLE IMPACT FOR CONSUMERS For consumers, the privatization of BCE likely won't have much impact because the company will still be run by the same management team led by CEO Michael Sabia and will pursue the same corporate strategies
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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Under the deal, which BCE's board of governors is recommending unanimously to shareholders, the equity ownership would be as follows: Teachers Private Capital 52%, Providence 32%, Chicago-based Madison Dearborn 9% and other Canadian investors 7%
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce
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The all-cash transaction is valued at $42.75 Cdn a share - or $51.7 billion in total - and includes $16.9 billion of debt, preferred equity and minority interests
Jul 1 '07 -Business- www.edmontonsun.com -teachers,billion,bce

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