BCE Inc.
Toronto symbol BCE, provides local and long distance telephone services in Ontario and Quebec. It also operates a nationwide wireless service.
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BCE INC., $32.58, is a buy. The company (Toronto symbol BCE; Shares outstanding: 921.8 million; Market cap: $30.0 billion; TSINetwork Rating: Above Average; Yield: 5.4%) has now received approval from the U.S. Federal Communications Commission for its acquisition of Ziply Fiber, which offers high-speed Internet access and telephone services through a fibre-optic network to about 1.5 million residential and business customers in Washington State, Oregon, Idaho and Montana.
BCE is paying $3.65 billion U.S. in cash (about $5 billion Cdn.) for this business. It will also assume $2 billion (Cdn.) of Ziply’s debt.
BCE is paying $3.65 billion U.S. in cash (about $5 billion Cdn.) for this business. It will also assume $2 billion (Cdn.) of Ziply’s debt.