- Greater regulatory certainty and positive investment climate
supports increased capital investment in Canada's network
infrastructure, including expanded fibre rollouts
- Builds on Bell's historic plan announced earlier this year to
invest in Canada's COVID-19 recovery, growing employment and the
country's leadership in broadband communications
- With additional network investment in 2020 to manage
unprecedented usage increases during the COVID crisis, Bell's
2020-2022 capital investment program will reach up to approximately
$14 billion – almost $2 billion more than originally planned
MONTRÉAL, May 31, 2021 /CNW/ -
Bell today announced that its accelerated capital investment plan
announced earlier this year will now increase by up to $1.7 billion, or as much as $500 million more, in response to the support for
infrastructure investment reflected in recent federal regulatory
and policy decisions.
This $1.7 billion in accelerated
Bell investment for 2021 and 2022 is in addition to the
approximately $4 billion in capital
that Bell has typically invested each year in network expansion
over the last decade. With an additional $200 million also invested in capacity and
coverage in 2020 to respond to the unprecedented usage demands of
the COVID crisis, Bell's total capital investment from 2020-2022
will be as high as $14 billion.
"Since 1880, the Bell team has ensured Canadians have the
critical network infrastructure necessary to build a prosperous
society and a sustainable economy, and we're accelerating our
commitment as we all look forward to our country's future beyond
COVID-19," said Mirko Bibic,
President and CEO of BCE Inc. and Bell
Canada. "The unprecedented impacts of the crisis have
necessitated a bold response from all stakeholders in Canada's
economy, and Bell responded with the largest capital acceleration
project in our company's 141-year history. Now, with greater
regulatory stability fostering an improved investment climate, Bell
is proud to take our plan even further by growing our investment to
advance how Canadians in communities large and small connect with
each other and the world."
Bell's accelerated capital investment plan announced in
February 2021 originally consisted of
$1 billion to $1.2 billion in additional network funding to
help drive Canada's recovery from the COVID crisis. With the CRTC's
recent decision and ongoing government policy support for
facilities-based competition and investment, Bell has now increased
the amount of accelerated funding to $1.5
billion to $1.7 billion. This
investment will significantly increase the number of wireline and
wireless connections in Canada's rural and urban centres alike over
the next 2 years, including significantly expanded plans for
all-fibre connections, while creating additional employment as
network construction activity speeds up.
"The policy approach of the federal government and the CRTC is
an expression of confidence in our country's future and the
importance of network investment to ensure consumers and businesses
have access to next-generation communications services in a digital
economy. We expect communications providers of all kinds to also
step up with investments and innovations of their own to drive
competition and deliver outstanding value to Canadians nationwide,"
said Mr. Bibic. "World-leading network investment by Canada's
communications providers has played a key role in seeing the
country through COVID-19 and laying the foundation for recovery.
The Bell team is proud to have been here to support our customers
and communities through the challenges of the past year and excited
by what the future has in store."
With 5G coverage now at approximately 35% of the Canadian
population, Bell recently announced the expansion of Canada's
fastest-ranked and most-awarded 5G network to a further 23 cities
and towns in Québec, Ontario and
Manitoba, on track to reach up to
70% national 5G coverage this year.
About Bell
The Bell team builds world-leading broadband wireless and fibre
networks, provides innovative mobile, TV, Internet and business
communications services and delivers the most compelling content
with premier television, radio, out of home and digital media
brands. With a goal to advance how Canadians connect with each
other and the world, Bell serves more than 22 million consumer and
business customer connections across every province and territory.
Founded in Montréal in 1880, Bell is wholly owned by BCE Inc. (TSX,
NYSE: BCE). To learn more, please visit Bell.ca or BCE.ca.
Bell supports the social and economic prosperity of our
communities with a commitment to the highest environmental, social
and governance (ESG) standards. We measure our progress in
increasing environmental sustainability, achieving a diverse and
inclusive workplace, leading data governance and protection, and
building stronger and healthier communities. This includes
confronting the challenge of mental illness with the Bell Let's
Talk initiative, which drives mental health awareness and action
with programs like the annual Bell Let's Talk Day and Bell funding
for community care, research and workplace programs nationwide all
year round.
Media inquiries:
Caroline
Audet
514-391-9794
caroline.audet@bell.ca
@Bell_News
Investor inquiries:
Thane Fotopoulous
514-870-4619
Thane.fotopoulous@bell.ca
Caution Concerning Forward-Looking Statements
Certain
statements made in this news release are forward-looking
statements, including statements relating to our anticipated
capital expenditures and the benefits expected to result therefrom,
including our two-year increased capital investment program to
accelerate broadband network and 5G footprint expansion, our
business outlook, objectives, plans and strategic priorities, and
other statements that are not historical facts. All such
forward-looking statements are made pursuant to the "safe harbour"
provisions of applicable Canadian securities laws and of
the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to inherent risks and uncertainties and are
based on several assumptions which give rise to the possibility
that actual results or events could differ materially from our
expectations. These statements are not guarantees of future
performance or events, and we caution you against relying on any of
these forward-looking statements. The forward-looking statements
contained in this news release describe our expectations at the
date of this news release and, accordingly, are subject to change
after such date. Except as may be required by applicable securities
laws, we do not undertake any obligation to update or revise any
forward-looking statements contained in this news release, whether
as a result of new information, future events or otherwise. Our
capital investment and network deployment plans and the benefits
expected to result therefrom are subject to risks and, accordingly,
there can be no assurance that our capital investment and network
deployment plans will be completed or that the benefits expected to
result therefrom will be realized. The value of the planned
investment assumes our ability to access or generate the necessary
sources of capital. However, there can be no certainty that the
required sources of capital will be available with the result that
the actual investment made by us could materially differ from
current expectations. For additional information on assumptions and
risks underlying certain of our forward-looking statements made in
this news release, please consult BCE Inc.'s (BCE) 2020 Annual
MD&A dated March 4, 2021, BCE's
2021 First Quarter MD&A dated April 28,
2021 and BCE's news release dated April 29, 2021 announcing its financial results
for the first quarter of 2021, filed by BCE with the Canadian
provincial securities regulatory authorities (available at
Sedar.com) and with the U.S. Securities and Exchange Commission
(available at SEC.gov). These documents are also available at
BCE.ca.
SOURCE Bell Canada