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03-31-2005, 09:52 AM
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Originally Posted by TrueBlue
What are you talking about? The Toronto Teachers Pension Fund actually increased their shares to 58% when Stavro left. If they didn't want so much of the pie, they definitely wouldn't be looking to increasing their shares in the MLSE.
They became majority share holders for control purposes. It was reported prior to the sale that the Pension Fund was looking to decrease their stakes in the franchise.

James Leech, the head of Ontario's Teachers' Merchant Bank spent nearly a year and a half brokering the deal, the TTPF was uncomfortable with the fact that a 15% shareholder held 51% of the power in an enterprise worth over $1 billion.

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