BCE making major inroads into U.S. fibre networks with $5B acquisition
Global News
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
Canadian telecom firm BCE said on Monday it would buy internet services provider Ziply Fiber for $5 billion in cash, as it looks to expand its fibre footprint in the United States.
BCE’s subsidiary, Bell Canada, will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
The buyout underscores Bell’s attempts to boost its fibre and internet business amid stiff competition in Canada.
After the deal closes, Bell said it would be poised to expand its fibre footprint to more than 12 million locations across North America by 2028.
Bell will also assume all of U.S.-based Ziply’s debt of around $2 billion.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
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The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
Donald Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
With the costs of pet ownership rising, the Competition Bureau sees an opportunity to drive down the prices of medication by expanding distribution to pharmacies.
Major North American carriers with international operations are cashing in on a booming demand for overseas travel and a resurgence in business bookings.