BCE Inc. says it will privatize regional telecom affiliate Bell Aliant.
BCE, which already controls Halifax-based Bell Aliant, is acquiring the interest of public minority shareholders in Bell Aliant for roughly $3.95 billion.
Bell Aliant's public minority shareholders will receive cash and BCE common equity for a combined value of $31 per share.
The telecom giant already controls Bell Aliant and is acquiring the remaining approximately 127.5 million common shares owned by the public minority shareholders.
BCE says Bell Aliant will continue to serve customers in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island from its Halifax headquarters.
Bell Aliant provides television, Internet and phone services to
BCE is the parent company of Bell Media, whichs owns and operates NEWSTALK 1010.