Bell Canada Acquiring Ziply Fiber in $7B Deal
BCE Inc.'s Bell Canada will acquire Ziply Fiber in a transaction valued at $7 billion, the companies announced Monday. It includes $5 billion in cash and the assumption of outstanding net debt of $2 billion. Bell estimated that about $4.2…
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billion in net proceeds from selling its ownership stake in Maple Leaf Sports & Entertainment will go toward funding the acquisition. The companies also expect to reach more than 12 million locations with fiber by the end of 2028. "This acquisition enhances our growth strategy with the scale and experience of one of North America’s leading fiber operators," said Ziply Fiber CEO Harold Zeitz.