Canada’s Largest Telecom Cuts Spending After Blow From Regulator
- BCE to reduce network spending by C$1 billion over two years
- Regulator trying to boost competition for internet services
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BCE Inc., Canada’s largest telecommunications company, said it will chop capital spending by C$1 billion ($730 million) after a regulator ordered the country’s major phone providers to open up their broadband networks to smaller rivals at prescribed rates.
The decision by Canada’s telecom regulator applies to Ontario and Quebec, two provinces where more than 60% of the population lives, and is intended to bring more competition to home internet services and reduce costs for consumers.