Bell is cutting more than $1 billion from its capital expenditure plans for 2024 and 2025 following a decision from the Canadian Radio-television and Telecommunications Commission (CRTC).
On Tuesday, the commission ordered Bell and Telus to allow competitors in Ontario and Québec access to their fibre-to-the-home (FTTH) networks at wholesale rates.
Of the cuts, which focus on Bell’s fibre network expansion, between $500 and $600 million will come in 2024. The company previously reduced its 2023 capital expenditure budget in anticipation of the decision.
In a press release, Bell says the move is “a direct result of the CRTC’s decision.”
“[The] decision forces Bell to open up its fibre network in Ontario and Quebec but does not mandate access to fibre-to-the-premises networks in western Canada where there are over three million fibre locations passed.”
The commission’s decision is part of a larger review focusing on wholesale internet access rates. The focus on these two provinces comes as competition has declined by 47 percent over the past two years. During this time, both Bell and Telus took over smaller internet service providers (ISPs) that served the provinces.
Telus acquired Start.ca and Altima, while Bell took over Ebox and Distributel.
Image credit: Shutterstock
Source: Bell
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