Bell Canada says it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities from the Northwest Territories, Yukon and Nunavut for around $1 billion. The Bell Canada logo is seen Tuesday, June 21, 2016 in Montreal. THE CANADIAN PRESS/Paul Chiasson
Bell Canada says it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities from the Northwest Territories, Yukon and Nunavut for around $1 billion. The Bell Canada logo is seen Tuesday, June 21, 2016 in Montreal. THE CANADIAN PRESS/Paul Chiasson
pchWHITEHORSE - Bell Canada says it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities from the Northwest Territories, Yukon and Nunavut, for around $1 billion.
It says in a press release that Northwestel, which provides phone, internet and television services in Canada's north, will become the largest telecommunications company worldwide with full Indigenous ownership.
Sixty North Unity says it is planning significant capital investment to double fibre internet speeds, expand high-speed availability and bring critical resiliency to safeguard against wildfires and other natural disasters.
The consortium is planning to maintain Northwestel's leadership team including its president, Curtis Shaw, while increasing Indigenous representation in the workforce.
Bell says it will maintain a strategic partnership with Northwestel after the transaction closes through ongoing operational support.
The telecom giant originally acquired Northwestel in 1988.
This report by °µÍø½ûÇø was first published June 11, 2024.
Companies in this story: (TSX:BCE)
°µÍø½ûÇø. All rights reserved.
Vladimir Guerrero Jr. had four hits, including a home run, and Davis Schneider wen…
Cliff Chapman, operations chief for the BC Wildfire Service, says a drying trend s…
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
