Nortel's complicated spinoff set to go

Article Abstract:

BCE Corp. (Montreal) has received final approval from the Ontario Supreme Court on Friday to spin off its 35% stake in Nortel Networks Corp. (Brampton, Ontario). Under the spinoff, BCE shareholders will get about 0.785 of a share of the newly independent Nortel for each BCE share held, plus a share of the new core BCE firm minus Nortel. The telecommunication conglomerate's stock, minus the Nortel component, will start trading in Toronto on Wednesday, but for today and tomorrow, investors can monitor BCE's divestiture of Nortel through a variety of other stocks, including those traded in the "when-issued" or gray market. BCE said it is spinning off its stake in the telecom equipment maker because it wants to draw investors' attention to its core telecommunications business. BCE's other divisions include telephone utility Bell Canada, e-commerce provider BCE Emergis Inc. and computer service firm CGI Group Inc.

Asset sales & divestitures, COMMUNICATION, Communications, Broadcasting and Telecommunications, Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications services industry, Telecommunications industry, Telecommunications equipment industry, Telecommunications systems, BCE Inc., Nortel Networks Corp., NT

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Boliden unit files for bankruptcy protection

Article Abstract:

Ontario-based Boliden Ltd., which is a metals mining company, will file for bankruptcy protection for its Spanish subsidiary, Boliden Apirsa S.L. The filing, which will allow the debt-ridden unit to develop its Los Frailes mine, had been affected by a major environmental disaster in 1998.

Spain, Mining & Extractive Industries, Mining, Boliden Ltd., Boliden Apirsa S.L.

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EuroZinc in talks to finance mines

Article Abstract:

EuroZinc Mining Corp. is seeking funding of $75-million to reopen two Portugal zinc mines.

Receipt of funds, Portugal, Mineral deposits, Mines and mineral resources, Mining, EuroZinc Mining Corp.

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