The transaction grants Caisse de dépôt et placement du Québec a 49.9% stake in the newly formed infrastructure company, valuing the business at roughly 4.91 billion Canadian dollars. Bell Canada will retain majority control while utilizing the fresh capital to aggressively reduce corporate debt and pivot toward investments in artificial intelligence and data centers.

TowerCo will function as an independent operator, leasing capacity back to Bell while pursuing third-party agreements and site expansion. Bell maintains full ownership of its wireless spectrum, active network equipment, and underlying land interests. Expected to close in the first quarter of next year, the deal mirrors a similar move by rival Telus, which sold a comparable stake in its own tower network to the same pension fund last year. Upon finalization, TowerCo will enter the market with no financial debt, positioning it as Canada’s largest dedicated wireless infrastructure provider.