Canada's BCE to take Bell Aliant private

Wed Jul 23, 2014 7:21am EDT
 
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July 23 (Reuters) - BCE Inc , Canada's largest telecommunications company, said it would take Bell Aliant Inc private by buying the stake it does not already own in the company.

BCE already controls 44 percent of Bell Aliant, which offers telecom services in eastern Canada, and has valued the remaining stake at about C$3.95 billion ($3.68 billion).

Bell Aliant shareholders can elect to receive either C$31 in cash, or 0.6371 of one BCE share, or C$7.75 in cash and 0.4778 of one BCE share for every share they own, the companies said. ($1 = 1.0724 Canadian Dollars) (Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)