Court overturns BCE sale ruling
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From Times Wire Services
BCE Inc. won the right to go ahead with a $35-billion deal that the Canadian phone company’s bondholders fought, saying it would reduce their holdings to junk.
Canada’s Supreme Court overturned a lower-court ruling that the sale of BCE, the parent of Bell Canada, to the Ontario Teachers’ Pension Plan and its U.S. partners didn’t adequately consider bondholders’ interests.
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