The indigenous consortium entered into an agreement to purchase Northwestel for $1 billion

WHITEHORSE — Bell Canada says it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities in the Northwest Territories, Yukon and Nunavut, for about $1 billion.

Northwestel, which provides telephone, Internet and television services in Canada’s north, will become the world’s largest fully Indigenous-owned telecommunications company, a news release said.

Sixty North Unity says it plans significant capital investment to double its fiber internet speed, expand high-speed availability and bring in critical resiliency to protect against wildfires and other natural disasters.

The consortium plans to retain Northwestel’s management team, including its president, Curtis Shaw, while increasing Indigenous representation in the workforce.

Bell says it will maintain a strategic partnership with Northwestel after the deal closes through ongoing operational support.

The telecommunications giant originally acquired Northwestel in 1988.

This report by The Canadian Press was first published on June 11, 2024.

Companies in this story: (TSX:BCE)

The Canadian Press