{"id":934,"date":"2007-06-26T12:26:10","date_gmt":"2007-06-26T16:26:10","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=934"},"modified":"2007-06-26T12:26:10","modified_gmt":"2007-06-26T16:26:10","slug":"telus-doesnt-want-bce","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=934","title":{"rendered":"Telus Doesn&#039;t Want BCE"},"content":{"rendered":"<p>Telus <a href=\"http:\/\/about.telus.com\/cgi-bin\/media_news_viewer.cgi?news_id=838&#038;mode=2\">has announced<\/a>:<\/p>\n<blockquote><p>that it has elected not to submit an offer to acquire BCE as part of the strategic review process announced by BCE on April 17, 2007. The inadequacies of BCE&#8217;s bid process did not make it possible for TELUS to submit an offer.<\/p><\/blockquote>\n<p>&#8230; which could be mere posturing in order to get BCE to change their bid process, a reflection of regulatory problems &#8230; who knows? Pick your talking head, pick your explanation.<\/p>\n<p>Ten year bonds for both companies widened 20bp on the news, perhaps reflecting the idea that now both will become LBO targets in shareholder-friendly ( = bondholder-hostile) events. But we will see!<\/p>\n<p>I continue to think that BCE prefs are a crapshoot on credit right now and don&#8217;t want anything to do with them! There are, as yet, no words of wisdom from the <a href=\"http:\/\/www.prefblog.com\/?p=930\">ratings agencies<\/a>.<\/p>\n<p>BCE has the following preferred shares outstanding: <a href=\"http:\/\/www.prefblog.com\/?p=381\">BCE.PR.A<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=381\">BCE.PR.C<\/a>, BCE.PR.E, BCE.PR.F, <a href=\"http:\/\/www.prefblog.com\/?p=537\">BCE.PR.G<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=537\">BCE.PR.H<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=537\">BCE.PR.I<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=381\">BCE.PR.R<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=381\">BCE.PR.S<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=381\">BCE.PR.T<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=490\">BCE.PR.Y<\/a> &#038; <a href=\"http:\/\/www.prefblog.com\/?p=490\">BCE.PR.Z<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telus has announced: that it has elected not to submit an offer to acquire BCE as part of the strategic review process announced by BCE on April 17, 2007. The inadequacies of BCE&#8217;s bid process &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-934","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=934"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/934\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}