The following table summarizes the fair value of the consideration paid and the fair value assigned to each major class of assets and liabilities and reflects adjustments to provisional estimates presented in Q3 2025, primarily for property, plant and equipment, intangible assets and deferred tax liabilities.


		Total
Cash consideration paid (1)		5,013
Deemed settlement of loan (2)		103

Total cost to be allocated		5,116
	Trade and other receivables	96
	Prepaid expenses	43

	Property, plant and equipment (3)	3,945
	Finite-life intangible assets (4)	873
	Indefinite-life intangible assets	263

	Post-employment benefit assets	20
	Trade payables and other liabilities	(207)
	Contract liabilities	(44)
	Debt due within one year (5)	(3)
	Long-term debt (5)	(2,754)
	Deferred tax liabilities	(257)
	Post-employment benefit obligations	(43)
	Other non-current liabilities	(4)
		1,928
Cash and cash equivalents		166
Fair value of net assets acquired		2,094
Goodwill (6)		3,022

(1)Reflects a net gain of $7 million from the settlement of foreign exchange forwards and cash designated to hedge the Ziply Fiber acquisition cost. See Note 30, Financial and capital management, for additional details.

(2)On June 25, 2025, Bell Canada entered into an agreement to loan Ziply Fiber up to $150 million in U.S. dollars. On July 30, 2025, a first loan draw of $75 million in U.S. dollars ($103 million in Canadian dollars) was made by Ziply Fiber.

(3)Consists of network infrastructure and equipment of $2,973 million, land and buildings of $537 million and assets under construction of $435 million.

(6)Goodwill arises principally from expected synergies and future growth, of which approximately $1,584 million is deductible for tax purposes. Goodwill was allocated to our Bell CTS U.S. group of CGUs.

The following table summarizes the fair value of the consideration paid and the fair value assigned to each major class of assets and liabilities and reflects adjustments to provisional estimates presented in 2024, primarily for property, plant and equipment and deferred tax liabilities.


		Total
Cash consideration paid		429


Total cost to be allocated		429
	Trade and other receivables	40
	Other non-cash working capital	7
	Assets held for sale	16
	Property, plant and equipment	290
	Finite-life intangible assets	17
	Other non-current assets	30
	Trade payables and other liabilities	(12)
	Contract liabilities	(1)
	Debt due within one year	(20)
	Liabilities held for sale	(10)
	Long-term debt	(100)
	Deferred tax liabilities	(41)
	Other non-current liabilities	(7)
		209
Cash and cash equivalents		11
Fair value of net assets acquired		220
Goodwill (1)		209

(1)Goodwill arises principally from expected synergies and future growth and is not deductible for tax purposes. Goodwill was allocated to our Bell Media group of CGUs.


		Total
Cash consideration paid		78

Contingent consideration (1)		11
Total cost to be allocated		89
	Trade and other receivables	6
	Other non-cash working capital	2


	Finite-life intangible assets	21
	Other non-current assets	1
	Trade payables and other liabilities	(3)
	Contract liabilities	(7)



	Deferred tax liabilities	(6)

		14
Cash and cash equivalents		5
Fair value of net assets acquired		19
Goodwill (2)		70

(1)The fair value of contingent consideration at the date of acquisition was estimated to be $11 million ($17 million at December 31, 2025).

(2)Goodwill arises principally from expected synergies and future growth and is not deductible for tax purposes. Goodwill was allocated to our Bell CTS Canada group of CGUs.