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(Adds opening stock prices)
OTTAWA (Reuters) - BCE Inc
There were reports Thursday that the buyers, led by the Ontario Teachers' Pension Plan, were floating an alternative deal. One source told Reuters that it involved an C$8 billion to C$10 billion investment for a minority stake in the company, which would remain publicly listed.
"While it is BCE's policy not to comment on rumors or speculation, in the interest of its shareholders, BCE is today confirming that no such offer has been made," the company said in a statement Friday.
The buyout of BCE is on the brink of collapse after accountants ruled a week ago that the company that would emerge from the deal would fail a solvency test because of its huge debt load.
A positive solvency opinion from KPMG, BCE's accountants, is a condition for the deal to close on Dec. 11 as planned. Without it, the buyout is unlikely to proceed, BCE has said.
BCE said Friday that it continued to work with KPMG and the purchasers to satisfy closing conditions of the agreement. The buyers group also includes Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch
Shares in BCE fell 0.8 percent, of 18 Canadian cents, to C$22.77 on the Toronto Stock Exchange Friday morning and 2 percent to $17.57 on New York in opening trade. ($1=$1.29 Canadian) (Reporting by Susan Taylor; Editing by Peter Galloway)
Copyright 2008 Reuters, Click for Restriction
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