No Income Trust for BCE
That’s a good thing at the end of it now. With the new regulatory penalties implemented it is a good thing for BCE to stay the course.
Elimination of holding company operations
BCE also announced today that it will not move forward with the planned
conversion into an income trust announced by the company on October 11, 2006.
However, the company is continuing with previously announced plans to simplify
its corporate structure and eliminate BCE’s holding company operations. As
part of this process, BCE intends, at its next annual shareholders meeting, to
change its name to Bell Canada Inc. and will have two operating businesses:
Bell and Bell Aliant Regional Communications. Bell Canada also intends to
change its name to Bell Inc. at the same time.
BCE looks to be figuring out what their business is and how they want to run it, and that’s what a Blue Chip is supposed to do, right? They will continue to buy back stock and increase dividends as well. Yup, I hold stock in this company, so take my comments however you like. –C8j
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