BCE Sells Tower Stake to La Caisse
Canadian telecom firm BCE agreed to sell a minority stake in its new wireless tower infrastructure company to La Caisse for 1.75 billion dollars. The transaction values the new entity at nearly 4.91 billion Canadian dollars and will help fund growth.
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BCE INC agreed to sell a 49.9% stake in its newly formed wireless tower unit, TowerCo, to La Caisse for $1.75 billion (C$2.45 billion) on Tuesday morning. The transaction values the infrastructure portfolio at approximately C$4.91 billion. The divestment gives Canada's largest telecom operator fresh capital to pay down debt and fund artificial intelligence initiatives.
