April 7, 2010 (FinancialWire) — BCE Inc. (NYSE: BCE) said it has completed the sale of its 22.1 million shares in satellite services firm SkyTerra Communication Inc. following the acquisition of SkyTerra by private investment firm Harbinger Capital Partners. The company said that the sale yielded proceeds of around $111 million.

Harbinger's take-private transaction was an all-cash merger in which Harbinger acquired SkyTerra common stock for $5.00 per share, representing a roughly 56% premium over the average closing price of SkyTerra's common stock for the 30 days ended September 22, 2009, the last day before the announcement of the merger agreement.

Virginia-based SkyTerra is a developer and supplier of mobile satellite communications services.

Canada-based BCE is a communications company providing a suite of communication services to residential and business customers in Canada. Operating under the Bell and Bell Aliant brands, the company's services include telephone services, wireless communications, high-speed Internet, digital television, IP-broadband services and information and communications technology services.

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