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Molson Family Considers Bid To Acquire Control Of Canadiens
Published May 27, 2009
|Molson Family's Bid For Canadiens Would
Not Involve Molson Coors Brewing Company
DEFENSIVE TRAP: The GLOBE & MAIL's Andrew Willis noted Canada-based telecom company BCE Inc. is "looking at playing defence by backing a bid" for the Canadiens, a "move that would keep rival Quebecor Inc. from seizing the prize." Sources indicated that BCE is "considering a minority role" in the bid by former Canadiens GM Serge Savard, and the "talk in Montreal business circles is that BCE ... would put up a maximum of [C$60M] for a franchise that is expected to fetch more than [C$400M] if it does sell." Quebecor Media Inc. President & CEO Pierre Karl Peladeau earlier this month confirmed that he is "in talks to buy" the team (GLOBEANDMAIL.com, 5/22). French-language newspaper La Presse cited sources as saying "both firms had formed consortiums to take over the Canadiens," and BCE is "working with the investment arm of a major Quebec trade union." But Quebec-based National Bank Friday said that it was "confident 'that the chance of BCE acquiring or even bidding for the Canadiens is very low.'" The bank cited what it said were "assurances from the firm that the team did not fit in with its main priorities" (REUTERS, 5/22).