A sign for Bell Canada on a vehicle in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio
The company expects Bell Canada's legacy phone revenue to decline by $250 million each year, while the news operation posts annual operating losses of $40 million. The Canadian telecom industry has over recent years come under pressure from the government to bring down phone bills in a concentrated market.
"I think it is a shame," Canadian Finance Minister Chrystia Freeland told reporters in Ottawa on Wednesday.