BCE focuses its spending

Article Excerpt

BCE INC. $56.62, is a buy. Through your shares (Toronto symbol BCE; Shares o/s: 904.3 million; Market cap: $51.2 billion; TSINetwork Rating: Above Average; Divd. yield: 5.9%) you tap Canada’s largest traditional telephone service provider. In addition, it offers high-speed Internet, TV and wireless services. The company also owns radio and TV stations. BCE has now agreed to sell 25 of its data centres in Canada to California-based Equinix Inc. (Nasdaq symbol EQIX). Those buildings house servers and other computer equipment for BCE but also many of its 600 business clients. The company will continue to own and operate five other data centres in Toronto, Calgary, Halifax, Saint John and St. John’s. BCE will receive $1.04 billion when it completes the sale later this year. The cash will give it additional room to invest in more-promising projects. That includes buying new wireless spectrum for its ultrafast 5G networks. BCE is a buy. buy…

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