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| | BCE, BCED, Olympia & York Termination of Negotiations |
 | | March 17, 1989 TORONTO -- In a joint announcement today, BCE Inc., BCE Development Corporation (BCED) and Olympia & York Developments Limited (Olympia & York) said they have agreed not to proceed further with discussions concerning a proposal through which Olympia & York would have become a major shareholder in BCED. |
 | | It had been announced, on January 27, that the three companies were discussing a proposal which, if agreed and implemented, would have resulted in Olympia & York becoming a 49.9% shareholder in a BCE subsidiary which would have had control of BCED, and in which BCE would have held a 50.1% interest. |
 | | J.V.R. Cyr, president and chief executive officer of BCE, expressed regret that agreement could not be reached with Olympia & York on the future of BCED. |
| www.bce.ca /en/news/releases/bce/1989/03/17/4477.html (345 words) |
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