Manitoba Telecom Services (MTS) is selling its Allstream business to Egyptian investment group Accelero Capital Holdings in a deal that values the long-distance telephony operator at around CAD520 million (USD503 million). MTS is expected to put around CAD130 million of the proceeds into its pension plan, and to repay CAD70 million in short-term indebtedness incurred in February 2013 to pre-fund the company’s pension obligations. Accelero was co-founded by Egyptian entrepreneur Naguib Sawiris.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors