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BCE Inc (2)
Symbol BCE
Shares Issued 912,283,103
Close 2024-11-11 C$ 38.79
Market Cap C$ 35,387,461,565
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Globe says BCE may get slapped by Trump in the U.S.

2024-11-11 08:06 ET - In the News

The Globe and Mail reports in its Saturday edition that BCE's move to expand in the United States with the $5-billion acquisition of Internet provider Ziply Fiber may be tied to the hopes of gaining U.S. federal funding. The Globe's Andrew Willis and Irene Galea write that in 2022, the Biden administration announced $45-billion (U.S.) in capital expenditure support for businesses that develop affordable, high-speed Internet in rural areas. According to Christopher Ali at the University of Pennsylvania, Ziply's footprint in rural areas make it a potential candidate for this funding. However, those funds might now be at risk. U.S. president-elect Donald Trump has said he would undo funding deals made by the previous administration -- although it is unclear whether he will keep this commitment, given that much of his supporter base is rural. Even if the funds remain in place, they come with strenuous regulatory demands. "I wouldn't stake $5-billion on hoping that that money's coming," said Prof. Jason Buckweitz at Columbia University. Erik Bohlin, a professor at the University of Western Ontario, said he sees Bell's southward move as tied to the slowing profitability of the Canadian market, and a desire for less regulations.

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