07:48 AM EST, 11/04/2024 (MT Newswires) -- BCE (BCE) said Monday its Bell Canada subsidiary has agreed to acquire Ziply Fiber for about 5 billion Canadian dollars ($3.65 billion) in cash, plus the assumption of about CA$2 billion in outstanding net debt.

Of the purchase price, CA$4.2 billion will be funded from the net proceeds from the sale of the company's stake in Maple Leaf Sports & Entertainment, with the remaining balance to be funded from a discounted DRP program.

The deal is expected to close in H2 2025. Upon closing, Zipyl Fiber will operate as a separate business unit.