"Our data centres house the key digital infrastructure that powers the digital economy," said
"We've been very committed to the Canadian market and looking for expansion opportunities over the years."
Lin said
"We see a great opportunity to expand Bell's ability to serve Canadian multinationals everywhere around the world," Lin said.
"We don't actually touch or handle the customers data," he added. "They're putting their servers, their storage infrastructure inside of our building and we're making sure the building is secure for them."
Bell will continue to own and operate five of its data centres at its own operations in
Analysts said Bell could be use proceeds from the sale for the next round of spectrum auctions, which will provide Canadian wireless networks with more of the frequencies they'll require for deploying fifth-generation services over the coming years.
"In our view, this will be a positive for the stock given that the valuation is solid (ahead of our expectations) and it affords BCE greater balance sheet flexibility going into the spectrum auctions," Canaccord Genuity analyst Aravinda Galappatthige wrote in a note to clients.
"We believe the transaction enables BCE to redeploy capital to more strategic opportunities (such as network investment including spectrum)," McReynolds wrote.
"This transaction reinforces Bell's strategy to focus investment on the network infrastructure, content and services necessary to advance how Canadians connect with each other and the world,"
The cash deal is expected to close in the second half of 2020, subject to regulatory approval and completion of other conditions.
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