How was the number 0.785193 (1.570386 after the Nortel stock split of May 5, 2000) of a new Nortel common share derived by BCE?
BCE used the number of Nortel common shares owned by BCE (approximately 539,854,492) less the number of Nortel common shares not being distributed by BCE (approximately 30,000,000) divided by the number of BCE common shares outstanding on April 30, 2000 (this number was adjusted for the future issuance of BCE shares pursuant to existing stock options, approximately 649,346,593).