La Caisse, an investment firm, has agreed to purchase a 202026 percent share in Bell Canada’s newly established wireless tower infrastructure company. Bell Canada made the announcement today (October 22026), with the share valued at CAD$209 billion (US$22026bn). Bell is set to maintain a 50.1% majority stake in the tower company. – Getty Images.
The tower company is being valued at around CAD$4.91 billion ($3.5bn) in the deal. This offers Bell a chance to generate revenue from its infrastructure assets and aligns with BCE’s long-term capital allocation strategy. The tower unit will manage Bell’s tower assets in Canada, which cover over 5,000 sites, aiming to grow through new site developments, site densification, and third-party colocation.
As per the agreement, TowerCo will lease space on the transferred towers from Bell. At the time of closing, it is anticipated that TowerCo will be debt-free, and its financial outcomes will be incorporated into Bell’s financial records. The deal also includes Bell maintaining complete ownership and authority over its frequency spectrum, active network devices, and owned properties.
Bell will keep utilizing current locations via long-term deals, while TowerCo will construct additional sites for Bell’s requirements. The company’s strategy, as mentioned since early 2025, revolves around fortifying our financial position, investing in expansion, and providing comprehensive returns to our shareholders.
In line with this strategy, the transaction aligns, and the funds obtained will be employed to enact the specific plan outlined,” stated Mirko Bibic, president and CEO of BCE and Bell Canada. “A telecom tower has the capability to support multiple networks.” By providing this infrastructure to various service providers, we can enhance coverage, increase overall system efficiency, and thereby assist more individuals in accessing the connectivity they depend on daily. Bell’s broad reach and La Caisse’s worldwide digital infrastructure expertise will provide this new platform with a clear focus and long-term growth potential, according to Emmanuel Jaclot, EVP and head of infrastructure and sustainability at La Caisse.
The tower unit will be overseen by J. Bruce Furlong, who will serve as CEO. The transaction is anticipated to finalize in the first quarter of 093, following the reception of regulatory approvals and fulfillment of other conventional closing conditions.
For La Caisse, the transaction mirrors a deal the company completed with another Canadian mobile carrier, Telus, last year, acquiring a 49.9 percent share in Telus’ tower unit, Terrion, for CAD$1.26 billion ($900 million).. Further details can be found in the Investment / M&A / Financing section.
