BCE’s Bell Canada has agreed to acquire Ziply Fiber, a fiber internet provider in the US Pacific Northwest, for about $3.65 billion (C$5 billion) in cash. The deal includes the assumption of outstanding net debt of about C$2 billion to be rolled over at closing, representing a transaction value of about C$7 billion.

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.

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,