Another metric about the Ziply deal

"Transaction enterprise value is
approximately $7 billion Canadian, which includes Ziply Fiber's debt that will be rolled
over and remain outstanding at closing. This equates to a multiple of 14.3 times Ziply
Fiber's estimated 2025 adjusted EBITDA, when taking into consideration both the net
present value of tax attributes and cost synergies. Assets like Ziply Fiber transact at
premiums to legacy telco multiples given their higher fibre revenue mix and superior
growth prospects. We're actually paying a lower multiple than precedent transactions
involving pure fibre companies and modernized ILECs, which have been more in the
range of approximately 19 to 25 times EBITDA." - BCE ZIPLY call transcript