QUEBEC — Parti Quebecois Leader Pierre Karl Peladeau says he is placing his controlling shares of Quebecor Inc. into a trust administered by a well-known financier.

Peladeau says the trust must be approved by federal telecommunications authorities.

The PQ leader has come under intense criticism from his political opponents who accuse him of being in a conflict of interest for holding office and being the controlling shareholder of Quebec’s dominant media company.

Premier Philippe Couillard has said Peladeau must choose between business and politics while third-party leader Francois Legault has urged him to sell the shares.

Peladeau wrote on his Facebook page today the trust will be administered by Claude Beland, a former president of the Mouvement Desjardins financial co-operative, as well as lawyer James A. Woods and businessman Andre P. Brosseau.

The PQ leader added he signed a declaration stating he wouldn’t intervene in the editorial direction of the news properties owned by Quebecor (TSX:QBR.B).


The Canadian Press