Luckily BCE not in the top ten in DF holdings..... Apparently the market did not like the latest acquisition of fibre...
This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this release.
- BCE to acquire 100% of equity in Ziply Fiber for approximately C$5.0 billion (U.S. $3.65 billion)
- Acquisition to extend Bell's fibre footprint to the United States, adding approximately 1.3 million fibre locations
- Acquisition to reinforce Bell's position as third-largest fibre Internet provider in North America with a total of 9 million fibre locations and an objective to reach over 12 million fibre locations by the end of 2028
- Bell to use estimated C$4.2 billion net proceeds from sale of its ownership stake in Maple Leaf Sports & Entertainment (MLSE) towards funding the Acquisition
MONTRAL, Nov. 4, 2024 /PRNewswire/ - BCE Inc. (TSX: BCE) (NYSE: BCE), Canada's largest communications company1, announced today that its wholly-owned subsidiary, Bell Canada (Bell), has entered into a definitive agreement to acquire Ziply Fiber, the leading fibre Internet provider in the Pacific Northwest of the United States, (the "Acquisition") for approximately C$5.0 billion in cash and the assumption of outstanding net debt of approximately C$2.0 billion to be rolled over at transaction close, representing a transaction value of approximately C$7.0 billion.
This transaction enhances Bell's growth profile and strategic position by giving it a foothold in the large, underpenetrated U.S. fibre market, while increasing its scale, diversifying its operating footprint and unlocking significant growth opportunities.