BCE issued a denial on Friday that it is in talks to renegotiate the terms of its sale to a group led by the private investment arm of the Ontario Teachers' Pension Plan.
"While it is BCE's policy not to comment on market rumours or speculation, in the interest of its shareholders, the company is today confirming that neither BCE nor its board of directors is involved in any discussions regarding any renegotiation of any of the terms of the definitive agreement entered into on June 29, 2007," the company said.
BCE 3-month TSX chart
The telecom company said it issued the statement "in response to certain rumours in the market."
Teachers' Private Capital, along with Providence Partners Inc. and Madison Dearborn Partners, two private equity investment firms based in the United States, bid $42.75 a share in cash to acquire BCE. The takeover deal is worth $51.7 billion including about $16.9 billion in assumed debt.
Shares of BCE fell about $1 in morning trading on the TSX but rebounded to close up 24 cents at $38.60.
That's more than $4 below the takeover offer price — a sign that the market thinks there's a possibility the deal may not go through on the original terms.
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