Topic: How To Invest

The Successful Investor Hotline – Friday, November 8, 2024

Article Excerpt

BCE INC., $39.49 Toronto symbol BCE, remains your #1 Income Buy for 2024, as well as long-term gains. The company is Canada’s largest traditional telephone service provider. It has 1.88 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. It also has 4.45 million high-speed Internet users and 2.13 million fibre-optic TV subscribers. In addition, the company sells wireless services to 13.30 million users across Canada (including mobile devices like tablets), and it owns TV and radio stations. The stock fell 12% this week after BCE agreed to acquire Ziply Fiber. Based in Everett, Washington, that privately held firm offers high-speed Internet access and telephone services through a fibre-optic network to residential and business customers in Washington State, Oregon, Idaho and Montana. BCE will pay $3.65 billion U.S. in cash (about $5 billion Canadian) for this business. It will also assume $2 billion (Canadian) of Ziply’s debt. It expects to complete the transaction in the second half of 2025. BCE will fund…