First Nations in Ontario will get the opportunity to buy shares in Hydro One.
The provincial government has made an agreement in principle with First Nations to loan them up to $268 million to buy up to 15 million shares of Hydro One. They would be purchased at $18 per share, which is above the province’s book value but below what they have been trading at lately ($24-26 per share).
For the deal to be official, 80 percent of band councils would have to approve it by the end of 2017.
Kelly takes your calls on this recent announcement.