1511 ET - BCE intends to reduce capital spending in 2025 more than anticipated, and the company is blaming Canada's telecom regulator. CEO Mirko Bibic says the regulator, known as the CRTC, rejected this week an appeal to reconsider the regulator's 2023 ruling that would compel BCE to make available its fiber-optic internet services to other broadband providers for resale. For 2024, BCE total capex fell to C$3.9 billion, from C$4.6 billion, for a capital-intensity ratio of 16%. Bibic says the capital-intensity ratio in 2025 is likely to fall further, to 14%. "This reduction is clearly greater than what we would have done otherwise," says Bibic, referring to the CRTC's decision. (paul.vieira@wsj.com, @paulvieira)
(END) Dow Jones Newswires
February 06, 2025 15:11 ET (20:11 GMT)
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