News Summary

A year after Bell Canada announced the $1 billion sale of Northwestel to Sixty North Unity, a coalition of Indigenous groups, the deal remains incomplete. Despite approval from the Competition Bureau, Sixty North has yet to secure the necessary funding, although they remain optimistic, citing potential support from the federal Indigenous Loan Guarantee Program. The acquisition, if successful, would make Sixty North the largest fully Indigenous-owned telecom company globally. Concerns have been raised about the technical expertise of the buyers and the outdated infrastructure of Northwestel. Competition from satellite providers, such as SpaceX’s Starlink, adds pressure to the deal, which is expected to conclude by 2025 if financing is secured.