(Montréal, Canada) - Bell Canada has agreed to sell La Caisse a 49.9 per cent stake in a new wireless tower company for $2.45 billion, subject to adjustments. BCE announced the agreement Tuesday; the sale has not closed.

The proposed transaction values TowerCo at about $4.91 billion. Bell would retain a controlling 50.1 per cent interest.

BCE says the Montréal-based business would own and operate more than 5,000 sites across Canada, leasing tower capacity to Bell and pursuing additional sites and other operators as tenants.

The arrangement concerns passive infrastructure. Bell says it will keep its spectrum, active network equipment and owned land, with long-term agreements providing access to existing sites.

Closing is expected in the first quarter of 2027, conditional on regulatory approvals and other customary requirements. BCE cautions that the deal’s timing, terms or completion could change.

Source: BCE announcement, October 27, 6:30 a.m. Eastern.

Editorial illustration of wireless tower infrastructure; not a particular Bell site.