February 11, 2009 / 3:04 PM / 9 years ago

BCE says pension funding to jump on market turmoil

OTTAWA, Feb 11 (Reuters) - BCE Inc (BCE.TO) (BCE.N), Canada’s biggest telecom company, said on Wednesday that it expects its total pension funding will more than double to C$500 million ($403 million) in 2009 from C$209 million in 2008.

    The jump is due to market turmoil and negative asset returns, said Chief Financial Officer Siim Vanaselja in a Toronto presentation for analysts following the release of the company’s quarterly results.

    A C$34.8 billion deal by a group of private-equity investors to take BCE private collapsed in December.

    $1=$1.24 Canadian Reporting by Wojtek Dabrowski, writing by Susan Taylor; editing by Peter Galloway

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