02:49 PM EST, 11/07/2023 (MT Newswires) -- The CRTC released an interim decision mandating access to telco fibre networks in Ontario and Quebec with interim rates. The decision is temporary and a formal hearing will begin in Feb-24.
In reaction to the decision, BCE announced network investment reductions of over $1 billion and a ~700k homes reduction in FTTH passings (to 8.3mm) through 2025.
"We do not believe the decision will materially increase wholesaler market share, but still see the outcome as a notional negative for BCE," writes BMO's Tim Casey.
Maintain Outperform, $58 target.
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