Canada’s BCE sells minority stake in new tower unit to La Caisse for $1.75 billion

Canadian telecom firm BCE said on Tuesday its subsidiary, Bell Canada, had agreed to sell a minority stake in the newly formed wireless tower infrastructure company to global investment group La Caisse for C$2.45 billion ($1.75 billion).

The transaction values the tower company, to be called TowerCo, at approximately C$4.91 billion.

Bell Canada will retain a 50.1% controlling equity interest in TowerCo, with La Caisse holding the remaining 49.9%.