Skip to main content

BCE shares are rising Monday on the latest indication that the telecom company will be bought out, as scheduled, by early December.

BCE kicked off a $1.95-billion debt repurchase program Monday that will see three issues of bonds from its Bell Canada subsidiary retired by Dec. 10. That move, though widely anticipated, reinforced the view that the $35-billion buyout will finally close by Dec. 11.

BCE shares are up 1.9 per cent on Monday, changing hands at $38 on the TSX. While that price is below the $42.75 takeover offer from a group led by the Ontario Teacher Pension Plan, the spread has narrowed steadily over the past month. In mid-October, during the worst days of the market meltdown, BCE shares traded below $33.

Story continues below advertisement

Bell Canada is retiring its 7.35 per cent series C Notes due Oct. 30, 2009, its 6.15 per cent debentures, series M-2, due June 15, 2009 and the 5.5 per cent debentures, series M-16, due Aug. 12, 2010.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at