Manitoba Telecom Services, MTS last week announced that its shareholders near-unanimously approved a multi-billion buyout deal for Bell Canada’s parent BCE. The approval will see BCE acquiring all issued and outstanding common shares of MTS.
Announced on May 2, the transaction is valued at approximately $3.9 billion and is expected to close in late 2016 or early 2017.
Recognizing the powerful brand and community presence MTS has built, the companies' combined operations in Manitoba will be known as Bell MTS, and Winnipeg will become BCE's Western Canada headquarters. Bell Canada has announced a 5-year, $1 billion commitment to expand broadband wireless and fibre communications services in Manitoba after the transaction closes to greatly enhance consumer choice and competition in the province.
Ray Forbes, President & CEO, MTS
This strong support reflects the meaningful value that shareholders will receive as a result of this transaction, which also provides compelling benefits to MTS customers, employees and to the province of Manitoba.
George Cope, President & CEO, Bell Canada & BCE
We look forward to working with the MTS team to complete the transaction, and to investing in the network and service innovations that will put Manitoba at the forefront of Canadian communications.
