Q: Your thoughts please on the BCE news today?
Thx
Thx
5i Research Answer:
We like the news as it confirms that BCE is serious about getting its financial house in order. $3.5B is about 10% of its current debt level. Investors have been concerned about the dividend and leverage, so this will appease that concern somewhat. Combined with its previously-announced cost-cutting efforts, the typically slow-moving BCE is moving fairly fast trying to fix things. It's not a miracle cure, but certainly a step in the right direction.