BCE to Acquire Ziply Fiber for $5 Billion, Pauses Dividend Increases Amid Varied Valuations

Nov 4, 2024, 01:50 PM

Canada's largest telecom firm, BCE, has agreed to acquire U.S. internet provider Ziply Fiber for approximately $5 billion. This acquisition marks a significant move into the U.S. market for BCE. The company plans to use about $4.2 billion in net proceeds from the sale of its stake in Maple Leaf Sports & Entertainment to help finance the deal. Additionally, BCE has announced that it will pause dividend increases following the acquisition. Reports also indicate varying figures for the acquisition, including $3.5 billion, $3.6 billion, and $3.65 billion.