BCE joins with Best Buy

Article Excerpt

BCE INC., $42.83, is a buy. The company (Toronto symbol BCE; Shares o/s: 912.3 million; Market cap: $39.1 billion; TSINetwork Rating: Above Average; Dividend yield: 9.3%) currently owns The Source retail chain, which sells consumer electronics through 272 retail stores. Under a new partnership with electronics retailer Best Buy, it plans to re-brand 165 of these stores as “Best Buy Express” outlets. In fact, it just opened its first new outlet in Surrey, B.C. BCE continues to own these new stores. It will also close its remaining 107 The Source stores. Best Buy’s well known brand should help draw more customers and improve the profitability of these outlets. They will also exclusively promote BCE’s wireless, Internet, television and home phone services. BCE Inc. is still a buy. buy…