La Caisse buys 49.9% of Bell's tower business for C$2.45B

BCE's Bell Canada agreed to sell a 49.9% stake in a newly formed wireless tower company to La Caisse for C$2.45 billion, valuing TowerCo at about C$4.91 billion. TowerCo will own more than 5,000 sites, lease capacity back to Bell, and remain 50.1% controlled by Bell.

Why it matters: The partial monetization supports BCE's goal of a 3.5x net debt leverage ratio by end-2027 and creates Canada's largest dedicated tower company.