Sabia incenses BCE debt holders; BCE to announce over 3 billion dollar share buy-back
Just can't give the TeleSat disposition proceeds away, like BCE's space stuff was collateral for BCE debt holders ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If the pension funds walk -- will management still buy-back 12% of BCE shares? These 3 billion plus funds, paying down debt, would reduce interest costs, by half a million a day at BCE. Sabia required to ask BCE shareholders in a vote first; Sabia lost enough marbles.
BCE tangible shareholder equity needs book value. If BCE functions with adding 30 billion in debt to the corporation's bottom line -- then isn't it better to keep BCE independent, and build a solid balance sheet. BCE shareholders win either way, so let's win for Canada also.
Canada is an economic super power. KKR directly told no accounting tricks, i.e.: Told no to separating goodwill and selling the assets into an income trust, like CWG. Told no to using foreign financing loopholes; obstructing Revenue Canada from taxing the profit on such a large loan leveraged against the Canadian economy, like CWG. KKR and Citigroup, welcome to Canada.
PS. Expo Jimmy Patterson -- BC entrepreneur of the year many times and BCE director -- should champion an independent BCE. Saving big stocks in the Canadian stock market left to play with? Let's sell Jimmy plenty of BCE shares; at an attractive discount; and restrict that the shares cannot be traded again, until Expo comes back to BC. This will increase BCE's book value. This deal also offered to KKR. This corporation shouldn't by leveraged into outer space.
PS. Sabia asked if BCE actual did have the mega share buy-back, would BCE be worth as much too KKR or Jimmy? Again, BCE CEO fries.