The Ontario Teachers’ Pension Plan has been told by several institutional shareholders that they would support its plan to buy BCE, according to a report.

The Globe and Mail reports a group of investors that own about 36% of the company’s shares would support an offer of approximately $40 a share.

Last week, a Teachers’ board of directors member resigned, citing a position of conflict given that he also sits on the board of the telecom company.

And earlier last week, Teachers’ said it was “closely monitoring developments and is exploring its options” BCE’s largest shareholder in a regulatory filing with the Securities and Exchange Commission.

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