La Caisse to Buy 49.9% of Bell TowerCo for C$2.45 Billion

BCE said Tuesday that Bell Canada agreed to sell La Caisse a 49.9% stake in its new tower company for C$2.45 billion, subject to customary adjustments, while retaining control of the infrastructure operator. The new company, TowerCo, will own and operate more than 5,000 wireless infrastructure sites across Canada. BCE values TowerCo at about C$4.91 billion, and Bell will remain the majority owner with a 50.1% stake. TowerCo will lease capacity on transferred towers to Bell. It also plans to build new sites, increase capacity in areas where it already operates and host equipment for other service providers.

Source: TokenPost