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.