Bell Canada to Sell 49.9% of New Tower Business to La Caisse for C$2.45 Billion

Canadian telecommunications group BCE announced Tuesday that its Bell Canada subsidiary has agreed to sell a 49.9% interest in a newly created wireless tower business to Quebec investment manager La Caisse for C$2.45 billion. The agreement values the business at about C$4.91 billion, according to BCE.

The new company, named TowerCo, is expected to own and operate more than 5,000 wireless tower sites across Canada. Bell will retain a controlling 50.1% equity interest, while La Caisse will own the remaining 49.9%. TowerCo is to be headquartered in Montreal.

Under the proposed structure, TowerCo will lease tower capacity to Bell. The telecom operator will continue to own its wireless spectrum, active network equipment and land. The new company may build additional sites and lease capacity to other telecommunications providers, a business model intended to allow infrastructure to be shared among networks.

BCE said the transaction is part of a strategy to strengthen its balance sheet and free capital for investment, including in AI-related services. The company has set a net debt leverage target of 3.5 times by the end of 2027. That target is a corporate objective rather than a result already achieved.

Completion of the sale is expected in the first quarter of 2027 and remains subject to regulatory approvals and other customary closing conditions. Until those conditions are met, the announced transaction should not be described as a completed asset transfer.

The deal was announced on October 27, 2026. Its terms were confirmed in BCE's announcement and independently reported by Canadian business and technology news outlets.