Portfolio holding BCE Inc. (BCE/NYSE) has done nicely since being recommended nearly a month ago at US$23.01 per share. It closed Thursday in New York at $24.99.
That doesn't mean much, of course, with the company being in the portfolio only a few weeks.
But what the heck, I have enough picks go south on me after buying. Let me enjoy this before taking time off during the Labor Day weekend, okay? ;-)
One of the factors in buying stock in BCE is the fact that management is taking steps to restructure the company. The latest of these has just been announced: an IPO of Telesat, the world's fifth-largest commercial satellite operator, valued at C$1 billion.
You can read the report here. As you'll see, some speculate BCE wanted to do an outright sale of Telesat, which the company denies.
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