November 13, 2023
Bell has announced its intention to reduce capital expenditures by over $1 billion in 2024-25, including a minimum of $500 to $600 million in 2024.
This reduction is in addition to Bell decreasing its 2023 capital expenditure budget by $100 million in anticipation of the CRTC decision to pursue wholesale access to Bell’s fibre network.
Bell’s fibre network is now available to over seven million homes and businesses. Prior to the CRTC’s decision, Bell’s near-term plan was to build high-speed fibre to nine million locations by the end of 2025. Bell will now re-consider pending builds in all communities where it had planned to expand, and will reduce its 2025 build target from nine million to 8.3 million locations.
“Rolling back fibre network expansion is a direct result of the CRTC’s decision. Today’s 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. If the intent of the decision is to benefit consumers then it is arbitrary and capricious to leave western Canadian consumers behind,” said the company via press release.