Phones Canada is excited to share the latest news about Northwestel’s acquisition by Sixty North Unity, a consortium of Indigenous communities from the Yukon, Northwest Territories, and Nunavut. This move will make Northwestel the largest telecom company globally with full Indigenous ownership, marking a significant milestone in the telecommunications industry.

Here are some key highlights of the acquisition and future plans by Sixty North Unity:

– Doubling internet speeds to 1 Gbps for fiber customers.
– Expanding high-speed internet to meet the CRTC’s universal service objective of 50/10 Mbps for over 97% of homes in Yukon and the Northwest Territories.
– Deploying Low Earth Orbit (LEO) satellite technology to deliver 50/10 Mbps speeds to satellite-served communities.
– Investing $4 million in the Great Slave Lake Fibre Project for enhanced resiliency.

Northwestel’s existing management team will continue to lead the company, ensuring a smooth transition. Bell will maintain its strategic partnership with Northwestel, offering ongoing operational support and remaining its largest customer.

The purchase price for this transaction is up to $1 billion in cash, subject to adjustments. TD Securities is advising Sixty North Unity, while RBC Capital Markets is advising Bell. Bell plans to use the funds from this sale to pay down debt.

President and CEO Mirko Bibic of BCE Inc. and Bell Canada congratulated Sixty North Unity and Northwestel on this visionary partnership, highlighting it as a step towards economic reconciliation through Indigenous ownership of critical telecommunications infrastructure.

Stay tuned for more updates on this historic deal that reflects a commitment to inclusivity and connectivity in Canada’s telecommunications landscape. Phones Canada is excited about what this acquisition means for the future of telecom services in Northern communities.