01:22 PM EDT, 07/02/2025 (MT Newswires) -- BCE (BCE.TO) Wednesday said it closed the sale of its ownership stake in Maple Leaf Sports and Entertainment (MLSE) to Rogers Communications (RCI-B.TO) for $4.7 billion, following all regulatory and sports league approvals.

BCE said it expects to use proceeds of the sale to support its acquisition of Ziply Fiber, the leading fiber Internet provider in the U.S. Pacific Northwest. The $5.0-billion sale is expected to close later this year..

"The conclusion of the sale of our stake in MLSE provides us with capital to put towards the acquisition of Ziply Fiber," said chief executive Mirko Bibic. "This transaction will accelerate our fibre growth as we pursue opportunities in the high-potential U.S. market, all while maintaining our status as a sports content powerhouse and strong supporter of Toronto's teams."

BCE shares were last seen up $0.82 to $31.02 on the Toronto Stock

Price: 31.02, Change: +0.82, Percent Change: +2.72