Massive Volume Spike: BCE (BCE)

Posted in General 
November 26th, 2008

BCE, Inc. (NYSE: BCE) is about to have a crummy trading day.  Shares are getting killed this morning after KPMG issued an opinion statement that because of a decline in assets and because of the extra debt burden on a post-merger basis, it could not give a “solvency letter” by the December 11 merger closing date.  FULL DETAILS HERE

Shares closed yesterday at $31.28… and now shares are down massively by almost 40% with about 3 minutes to the open at $18.90.  We have also seen more than 4.3 million shares trade hands.

Another merger looks at risk of imploding….

Jon C. Ogg
November 26, 2008

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