BCE SUCCESSFULLY COMPLETES OFFER TO ALIANT SHAREHOLDERS
MONTREAL, Québec, Jan. 24 /CNW/ - BCE Inc. today announced that an
estimated 31.2 million common shares have been tendered by shareholders of
Aliant Inc. under BCE's offer to purchase up to 15.8 million of the
outstanding common shares of Aliant at a price of $27.50 per share dated
December 21, 1999, which expired on January 21, 2000 at 5:00 o'clock p.m.
(local time at place of deposit).
On the basis of the estimated number of shares tendered, approximately
50.6% of the shares tendered by each shareholder would be taken up under the
offer. Once the actual number of shares validly tendered under the offer
has
been established, BCE will announce the final prorata factor and will
take-up
and pay for the shares in accordance with delays prescribed by applicable
securities legislation. Official acceptance of shares tendered is expected
to
be on January 27, 2000, with payment occurring no later than January 31,
2000.
The shares to be acquired by BCE, together with the shares owned by Bell
Canada, will represent approximately 53% of the outstanding common shares of
Aliant on a fully-diluted basis.
BCE is Canada's largest communications company. Through its operations
in communications services, BCE provides residence and business customers in
Canada with wireline and wireless telecommunications products and
applications, satellite communications and direct-to-home television
services,
systems integration expertise, electronic commerce solutions, Internet
access
and high-speed data services, and directories. Abroad, through Bell Canada
International's investee companies, BCE provides communications services to
more than 5 million customers in Asia and Latin America. BCE also has an
extensive international presence through its ownership in Nortel Networks, a
global leader in the design and building of communications networks, as well
as through Teleglobe, an international telecommunications carrier. BCE
shares
are listed in Canada, the United States and Europe.
-0- 01/24/2000
For further information: Jean-Charles Robillard, Communications, (514)
786-3908, Web Site: www.bce.ca
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