Exhibit 99.1
BCE recommends shareholders reject TRC Capitals below-market mini-tender offer
MONTRÉAL, July 1, 2024 BCE Inc. (TSX, NYSE: BCE) has received notice of an unsolicited mini-tender offer made by TRC Capital Investment
Corporation (TRC Capital) to purchase up to 2,500,000 BCE common shares, or approximately 0.3% of the companys outstanding common shares, at a below-market price of C$43.40 per share. BCE does not endorse this unsolicited offer, has no
association with TRC Capital or its offer, and recommends that shareholders do not tender their shares to this unsolicited mini-tender offer.
BCE
cautions shareholders that the mini-tender offer has been made at a price below market price for the BCE common shares. TRC Capitals unsolicited offer price of C$43.40 per share represents a discount of approximately 4.43% and 4.44%,
respectively, to the closing price of the BCE common shares on the Toronto Stock Exchange and the New York Stock Exchange on June 24, 2024, the last trading day before the mini-tender offer was commenced.
Shareholders are urged to obtain current market quotations for their shares, consult with their broker or financial advisor and exercise caution with respect
to TRC Capitals unsolicited offer. According to TRC Capitals offer documents, BCE shareholders who have already tendered their shares can withdraw their shares at any time before 11:59 p.m. (Toronto time) on July 25, 2024 by
following the procedures described in the offer documents.
TRC Capital has made similar unsolicited mini-tender offers for shares of other public
companies in Canada and elsewhere. Mini-tender offers are designed to avoid investor protections such as disclosure and procedural requirements applicable to most take-over bids and tender offers under Canadian and U.S. securities laws. The Canadian
Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price
relative to the actual market price of their securities.
The SEC states that bidders make mini-tender offers at below-market prices, hoping that
they will catch investors off guard if the investors do not compare the offer price to the current market price. The SEC has published investor tips about mini-tender offers, which can be found on its website at www.sec.gov/investor/pubs/minitend.htm.
Brokers, dealers and other market participants are encouraged to exercise caution and review the letter regarding broker-dealer mini-tender offer
dissemination and disclosures on the SEC website at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Comments from the CSA on mini-tenders can be found on the Ontario Securities Commission website at http://www.osc.gov.on.ca/en/SecuritiesLaw_csa_19991210_61-301.jsp.
BCE requests that a copy of this news release be included in any distribution of materials relating to TRC Capitals mini-tender offer for BCE common
shares.
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