Bell Canada Divests Minority Stake in Tower Business for $1.8 Billion

Bell Canada has agreed to sell a minority interest in its newly established tower division to the investment firm La Caisse for CAD 2.5 billion ($1.8 billion). The proceeds from this transaction will be utilized to reduce corporate debt and fund strategic growth initiatives.

Under the terms of the agreement, La Caisse will acquire a 49.9% stake in the TowerCo entity, while Bell Canada’s parent company, BCE, will retain the remaining 50.1%. TowerCo will own over 5,000 sites, making it the largest dedicated tower company in Canada. Bell will lease capacity from the new entity while maintaining full ownership of its spectrum, active network equipment, and associated land. The transaction is expected to close in the first quarter of 2027.

BCE indicated that the sale is a key component of its plan to strengthen its balance sheet and support investments in high-growth areas, such as artificial intelligence solutions. The company aims to reduce its net debt leverage ratio to 3.5 times by the end of 2027.

“This transaction unlocks significant embedded value in our infrastructure while ensuring we continue to operate a leading wireless network,” stated Mirko Bibic, President and CEO of BCE and Bell Canada. “We are focused on strengthening our financial position and delivering sustainable returns to our shareholders.”