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MTS to sell Allstream to Accelero for CAD 520 mln
2013-05-24 16:45:00| Telecompaper Headlines
(Telecompaper) Canadian operator Manitoba Telecom Services announced the conclusion of its strategic review to consider alternatives for its unit Allstream. Following an auction process and review of other strategic alternatives, the company has signed a binding agreement to sell Allstream to Accelero Capital Holdings Group, and investment and management group focused on telecommunications, digital media and technology. The transaction values Allstream at CAD 520 million, subject to certain customary adjustments, including assumed debt obligations and normalised working capital, as well as certain pension related obligations. The transaction has been approved by the MTS board of directors and is expected to close in the second half of 2013, subject to regulatory approval.
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Category:Telecommunications