Suryaa Now International Desk: Canada's leading telecommunications giant BCE has taken a key decision in its infrastructure business. In their new tower section... Canada's leading telecommunications giant BCE has taken a key decision in its infrastructure business. It has officially announced that it has sold a minority stake worth a whopping $1.75 billion in its new tower division to renowned investment firm La Caisse.
The agreement to improve infrastructure and reduce financial burden in the telecom sector has become a hotly debated topic in global markets. Economists believe that this partnership will provide significant relief to the BCE company at a time when telecom companies are spending huge sums of money for their network expansion in the current economic climate. The capital raised through the deal with La Cais will be used by the company for future digital services and 5G network expansion. The management has revealed that they will be able to further increase their competitiveness in the market.
The transaction is a good example of profitable infrastructure investments in the context of rapidly changing telecom tower management and sharing agreements internationally. As per the expectations coming from industry circles, other global telecom companies are also likely to turn towards such strategic deals for monetization of their assets in the coming days. This massive deal will pave the way for new investments and better service in the telecom sector across Canada.