BCE has signed a deal to buy U.S. fiber internet provider Ziply Fiber for about $5 billion in cash, aimed at expanding its fiber footprint in North America.
Chief financial officer Curtis Millen stated, 'We're trading our stake in a sports asset ... and we're reallocating capital into a fibre asset with significant growth opportunity.'
BCE's chief executive Mirko Bibic described the U.S. as a 'natural expansion market,' emphasizing that the deal would solidify Bell's status as a top fiber network provider.
The acquisition is anticipated to close in the second half of 2025, pending regulatory approvals and customary closing conditions.
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