May 13, 2008
Caisse de depot seeks to cash in through heavy buy of BCE shares
“I would think they are merely placing a bet on the eventual outcome, which is that the Teachers will be paying out at a higher level than the market suggests”
- Canada's largest pension fund manager, the Caisse de depot et placement du Quebec, may be looking to cash in on the privatization of BCE Inc. (TSX:BCE) after it nearly doubled its stake in Canada's largest telecom company in the last few months.
The Caisse disclosed in a quarterly filing Tuesday with the U.S. Securities and Exchange Commission that it purchased 2.4 million shares of BCE in the three months ending March 31. That raises its stake to 5.26 million shares, valued at US$178.4 million, or $33.92 per share. Read more
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