Bell Canada and La Caisse Form $3.5 Billion Wireless Tower Joint Venture

Paul, Weiss is advising BCE Inc., Canada’s largest communications company, on a joint venture between its subsidiary Bell Canada and global investment group La Caisse to create what will be Canada’s largest dedicated wireless tower company.

La Caisse will acquire a 49.9% stake in the new company, currently named TowerCo, for C$2.45 billion, and Bell will retain a 50.1% controlling interest. The transaction values TowerCo at approximately C$4.91 billion (US$3.5 billion).

Headquartered in Montréal, TowerCo will own and operate Bell’s wireless infrastructure portfolio of more than 5,000 sites nationwide and lease tower capacity back to Bell. It will grow through new site builds, site densification and third-party colocation. Closing is expected in the first quarter of 2027, subject to customary conditions.

The Paul, Weiss team is led by corporate partner Tom Levine.