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BCE To Buy Manitoba Telecom In a $3.9bn Deal

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BCE To Buy Manitoba Telecom In a $3.9bn Deal

Montreal-based telecommunication business BCE Inc. has agreed to buy Manitoba Telecom Services Inc. (MTS) in a deal valued at $3.9 billion. Under this deal, Manitoba’s phone, internet and wireless company will be added to BCE’s telecommunication business. It is already the largest telecom company in Canada.

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The deal awaits approval from the Canadian Radio-television and Telecommunications Commission, the Competition Bureau and Industry Canada, but is expected to close late this year or early 2017.

The purchase price includes $3.1 billion for the company, plus BCE will assume $800 million worth of MTS debt. BCE is offering $40 per share in cash or equity for the Winnipeg-based company’s stock. MTS shareholders can choose to receive either cash or shares in BCE in exchange for handing over their shares in the company.

To finance the deal, BCE will sell about a third of MTS’s postpaid subscriber base and retail locations to Telus, in a separate transaction.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

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