Canadian telecom firm BCE said on Monday it would buy internet services provider Ziply Fiber for C$5 billion ($3.60 billion) in cash, as it looks to expand its fiber footprint in the United States. BCE's shares fell about 9% as some analysts said the proceeds from selling the company's stake in Maple Leaf Sports & Entertainment will not be used to pay down debt.

Canadian telecom firm BCE said on Monday it would buy internet services provider Ziply Fiber for C$5 billion ($3.60 billion) in cash, as it looks to expand its fiber footprint in the United States. BCE's subsidiary,

BCE (TSX:BCE), one of Canada’s largest telecom stocks, is announcing that its Bell Canada subsidiary will acquire Washington-based Ziply Fiber, the leading fibre Internet company in the U.S. Pacific Northwest,

BCE (BCE) on Monday agreed to acquire US-based internet provider Ziply Fiber in a deal with a total value of about 7 billion Canadian dollars ($5.04 billion), including debt. The Canadian telecommunications company's subsidiary,