November 3, 2014 / 1:57 PM / 4 years ago

BCE closes Bell Aliant deal, adds new member to its board

TORONTO (Reuters) - Canada’s largest telecom player BCE Inc said on Monday it has completed the C$3.95 billion ($3.5 billion) acquisition of its regional affiliate Bell Aliant, expanding its footprint in the Atlantic Canada region.

Montreal-based BCE said plans to invest C$2.1 billion across all four Atlantic provinces over the next five years as part of an extensive rollout of broadband wireline and wireless networks for consumers and business customers.

The company also named Robert Dexter, as a director of BCE Inc and its operational arm Bell Canada. Dexter was previously a director of Bell Aliant.

BCE reiterated that Glen LeBlanc, the former chief financial officer of Bell Aliant, is set to become CFO of BCE when BCE’s current CFO Siim Vanaselja retires in the second quarter of next year. Until then, LeBlanc will serve as senior vice president of finance at the company.

Reporting by Euan Rocha; Editing by Chizu Nomiyama

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