Pierre Karl Péladeau says his campaign pledge to put his holdings in a blind trust does not apply because he did not become a member of cabinet.
He says he did not commit himself to doing it otherwise, "I didn't say that. I said that I would follow the law. The law says that if you are part of the executive committee, you will be forced to do this."
Péladeau would not specifically say whether his holdings were currently in a blind trust or not.
He has signed agreements with the National Assembly's ethics commissioner, Péladeau says, but he would not reveal has been asked of him.
"There is nothing specific to say other than we are respecting the law," he told a group of reporters that included two Quebecor employees. A dozen people work for various Quebecor-owned media outlets at the National Assembly.
The ethics commissioner has already told CJAD that his recommendations for Péladeau will remain confidential.
Last month, the Globe and Mail reported that, according to a source close to Quebecor, Péladeau was still actively involved in running the company.
Péladeau would not confirm or deny the story. "I don't have any comments to say on things that have been said by reporters."
But, Quebecor's VP of public affairs Martin Tremblay says Péladeau is not actively implicated.
He would not comment on whether or not his shares are in a blind trust.
"It's up to Mister Péladeau to take the measures that are acceptable to him," says Tremblay. "For us, he is still the controlling shareholder of the company."