The value people will probably try to own BCE, and the momentum types will probably try to get NT since it is a more exciting stock. I'm more partial to owning BCE, since on and off, this has been a core holding for me for several years.
BCE.W closed C$42. BCE.W = exNT BCE available only on TSE. 26M shares changed hands on BCE.W.
Today, I already sold all my BCE and bought BCE.W. I also picked up some TGO at C$37.20 when someone reminded me that TGO shares are worth either 0.97 BCE shares if BCE<50, 48.41 if 50<=BCE<=57, 0.85*BCE if BCE > 57. (Based on avg of 10 trading day before deal closes).
So many creative ways to play this BCE thing! At today's closing price of the BCE.W (C$42), TGO's true value is 40.74, a full $2.64 above TGO.TO close of 38.10. Did I miss something or is this a bargain?
biz.yahoo.com
BTW, it is not 0.78 NT shares, it's 0.785193 or 1.570386 postsplit NT.
MONTREAL, May 1 /CNW-PRN/ - BCE Inc.'s distribution of a 35 per cent interest in Nortel Networks to BCE shareholders is effective today. The distribution will be calculated on the basis of 0.785193 of a Nortel Networks share for every BCE share held. Since Nortel Networks will be splitting its shares on a two-for-one basis effective at the close of business on Friday, May 5, BCE shareholders will actually receive 1.570386 Nortel Networks shares for every BCE share held.
biz.yahoo.com |
