This intricate spider web of multilevel ownership through various classes of shares was tabled by BCE and Teachers at the recent CRTC Public Hearings in a document entitled: "Reference Materials Regarding Control-in-Fact Issues for the CRTC"
Looks more like a sub prime mortgage conduit diagram to me, which it most certainly is as well. Almost as certain as the intent of the following:
Section 11 of Schedule III of Teachers’ governing regulations provides that:
“the administration of a plan shall not, directly or indirectly, invest the moneys of the plan in the securities of a corporation to which are attached more than 30% of the votes that may be cast to elect the directors of the corporation”.
Meanwhile the CRTC doesn't appear so easily wowed with the actual "control-in-fact" circumstances of this proposed arrangement:
CRTC raises concerns about BCE takeover
The Toronto Star
Tuesday, February 26, 2008
Posted by Fillibluster at 7:01 PM