Manitoba Tel to sell Allstream to Accelero, put $130 million into pension

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WINNIPEG - Manitoba Telecom Services Inc. (TSX: MBT) has agreed to sell its national telecommunications arm, Allstream, to Accelero Capital Holdings.

Accelero is an investment group focused on telecommunications, digital media and technology companies.

Winnipeg-based MTS says the deal values Allstream at $520 million.

Manitoba Tel says it expects to realize $405 million from the sale, of which $130 million will be used towards the company's pension plan.

The deal is subject to certain conditions but it's expected to close later this year.

Organizations: Manitoba Tel, Manitoba Telecom Services Inc., TSX Accelero Capital Holdings

Geographic location: WINNIPEG

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