May 25, 2009 / 1:36 PM / 9 years ago

Ontario Teachers' cut stake in BCE -Globe and Mail

TORONTO, May 25 (Reuters) - The Ontario Teachers’ Pension Plan has sold much of its stake in Canada’s biggest phone company BCE Inc (BCE.TO), the Globe and Mail said on Monday, citing sources in the financial community.

The fund sold 30.6 million shares of BCE worth C$713 million in four large trades on Friday, through TD Securities, according to the report.

Spokespersons for the Ontario Teachers Pension Plan and BCE were both not immediately available for comment.

The pension plan had a 50.8 million share stake worth C$1.2 billion, but in its last regulatory filing as of March 31, the stake had shrunk to 39.8 million shares, according to the report.

Shares of BCE, which are down 4.9 percent year-to-date, closed Friday at C$23.91 on the Toronto Stock Exchange. (Reporting by Euan Rocha; Editing by Derek Caney)

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