BUSINESS

BCE gets enough stock from Aliant shareholders to take regional affliate private

10/03/2014 08:59 EDT | Updated 12/03/2014 05:59 EST
MONTREAL - BCE Inc. (TSX:BCE) has received more than 90 per cent of the publicly held common shares of Bell Aliant (TSX:BA) and will now move to acquire the rest under a $3.95-billion privitization plan announced in July.

BCE had already owned 44 per cent of Halifax-based Aliant's common stock. It offered to buy all of the Aliant shares it didn't already own for $31 in cash, or a fraction of a BCE common share of similar value or a combination of cash and stock.

The Montreal-based parent of Bell Canada says it expects to pay for the tendered Aliant stock on Tuesday.