Friday, November 22, 2024

Canada’s BCE Makes Foray Into US With $3.6 Billion Ziply Deal

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(Bloomberg) — BCE Inc., Canada’s largest telecommunications company, agreed to buy an internet provider in the Pacific Northwest, making a rare and surprising move into the US market.

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BCE will pay C$5 billion ($3.6 billion) for Northwest Fiber LLC, which does business as Ziply Fiber and has 1.3 million fiber locations in Washington, Oregon, Idaho and Montana.

The company will fund most of the deal with the proceeds from the sale of its stake in Maple Leaf Sports & Entertaiment Ltd., the owner of the Toronto Maple Leafs and other sports franchises, to Rogers Communications Inc.

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