04:11:11 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 912,173,328
Close 2023-05-29 C$ 61.72
Market Cap C$ 56,299,337,804
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Globe says BCE's Bibic threatens to cut rural services

2023-05-30 07:57 ET - In the News

The Globe and Mail reports in its Tuesday edition that regulatory intervention threatens to stall investment in high-speed Internet networks in rural communities, BCE's chief executive officer says. The Globe's Alexander Posadzki writes that in order to foster competition in the Internet market, the CRTC requires the big telcos to sell access to their networks to smaller Internet service providers at regulated rates. In March, the CRTC launched a review of its framework for wholesale Internet access, citing a desire to increase competition and reduce prices. The consultation includes looking at whether the telcos should be mandated to provide access to their fibre-to-the-home networks, which offer faster speeds. Currently, Internet service providers are able to negotiate access to those networks, but they say the prices are too high for them to be able to compete. BCE CEO Mirko Bibic cautioned on Monday that if the rates are set too low, companies such as his will be forced to curtail their investments, particularly in smaller, rural communities. "If it affects the ROI [return on investment], we will cut investment, or we will pace it out slower, and rural and smaller communities are going to get left behind."

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