Industry Canada Approves BCE Acquisition

courtesy of
Broadcastermagazine.com
April 10, 2008


BCE says its proposed acquisition by an investor group has been approved by Industry Minister Jim Prentice, subject to certain conditions.

With Minister Prentice's approval, subject to the satisfaction of the applicable conditions, the regulatory approvals required in connection with the transaction will have been obtained, BCE reports.

BCE now expects the transaction to close before the end of the second quarter of 2008.

The completion of the proposed privatization transaction is subject to a number of terms and conditions, including, without limitation: (i)
satisfaction of the conditions to the approvals of the Canadian Radio-television and Telecommunications Commission and the Minister of
Industry, (ii) resolution of the appeals filed by the debenture holders with regard to the plan of arrangement, and any related stay or injunction that would prevent closing pending resolution of such appeals, and (iii) certain
termination rights available to the parties under the definitive agreement dated June 29, 2007, as amended, governing the terms of the transaction.

The full text of Minister Prentice's letter is available on BCE's website at http://www.bce.ca.

Investors include Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, Providence Equity Partners Inc., Madison Dearborn Partners, LLC, and Merrill Lynch Global Private Equity.

Under the Bell brand, the BCE's services include local, long distance and wireless phone services,
high-speed and wireless Internet access, IP-broadband services, information
and communications technology services (or value-added services) and direct-to-home satellite and VDSL television services. BCE also holds an
interest in CTVglobemedia, Canada's premier media company. BCE shares are listed in Canada and the United States.

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