Bell has added thousands of customers to its fibre internet service through network expansion projects, but Bell’s CEO argues the figure could’ve been higher if not for “regulatory uncertainty.”
“We’re well on track to hitting the targets we had established for ourselves for 2023,” Bell CEO Mirko Bibic said during a conference call discussing third-quarter financial results. The report showed the company added 104,000 net fibre internet subscribers.
The company had the ability to build more than what it planned for in 2023 but decided against it as Bell waits for the Canadian Radio-television and Telecommunications Commission (CRTC)’s decision on wholesale internet access.
In March, the commission launched a review to examine the rates smaller competitors pay larger telecom companies to access their networks.
If the CRTC does rule to cut the rates, “you are going to see us slow down the build as early as next year,” Bibic said. He called the situation “unfortunate,” stating Bell’s fibre buildout helped increase competition.
“Where we enter with fibre, we increase competition against the cable company, and then the cable company knows that in time it needs to upgrade its networks and build fibre of its own, which actually further increases competition,” Bibic said.
“You see the results where we enter, the customer gets better service, better value, lower prices, and that’s what’s being put at stake here with the conversation that we’re generally having in the regulatory proceedings.”
It’s worth noting that Bibic has a history of threatening to pull investments whenever the government does something he doesn’t like. Earlier this year, Bibic suggested there would be “unintended consequences” if the government and CRTC pushed more regulations on the big telecom companies, and Bell joined other telcos in threatening investments over a wholesale ruling in 2019.
Update November 3rd, 2023 at 2:31pm ET: Added additional details about Bibic’s history of threatening telecom investments.
Via: The Canadian Press
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