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FCC Greenlights Bell Canada’s $3.65 Billion Ziply Fiber Acquisition

By  |  July 15, 2025

The U.S. Federal Communications Commission (FCC) has granted final approval for Bell Canada’s $3.65 billion (CA$5 billion) acquisition of Ziply Fiber, a Washington-based internet service provider. The green light represents a pivotal development in BCE Inc.’s long-term strategy to expand its reach into the American broadband market, according to US Herald.

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    In its public statement released Monday, the FCC concluded that the transaction poses no threat to market competition, citing the absence of overlapping service territories between Bell and Ziply. The agency emphasized that the acquisition is expected to serve the public good, particularly by enhancing internet infrastructure in rural and underserved regions.

    Per US Herald, the Commission also pointed to Bell Canada’s established expertise in fiber network deployment as a valuable asset in advancing broadband availability. The FCC acknowledged BCE’s assurance that it would fulfill all obligations tied to federal high-cost broadband funding, which could lead to more efficient rollout timelines and broader connectivity.

    The acquisition, first announced in November 2024, is a central element in BCE’s efforts to scale its operations, diversify geographically, and tap into new growth areas within the U.S. fiber internet sector.

    To fund the acquisition, BCE plans to draw on CA$4.2 billion in proceeds from the anticipated sale of its stake in Maple Leaf Sports & Entertainment. Additional funding will come from a dividend reinvestment and stock purchase plan, with a term loan facility available if supplemental financing becomes necessary.

    Ziply Fiber currently provides service to more than 1.3 million fiber-enabled locations across four U.S. states and aims to expand that footprint to over 3 million locations within four years. The acquisition is expected to accelerate that growth trajectory and bolster Ziply’s infrastructure capabilities.

    In a related move, BCE and the Public Sector Pension Investment Board (PSP Investments) revealed in May the launch of Network FiberCo, a wholesale fiber network entity. PSP Investments has committed to a potential investment of up to $1.5 billion to support the development of broadband infrastructure through Ziply Fiber.

    Source: USA Herald