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Government of Canada Rejects Manitoba Telecom Services Inc Sale Of Allstream To Accelero Capital Holdings

Monday, 7 Oct 2013 06:17pm EDT 

Manitoba Telecom Services Inc announced that the Federal Government has rejected the proposed acquisition of the Company's Allstream division by Accelero Capital Holdings S.a.r.l. (Accelero). MTS Allstream and Accelero have responded openly and constructively to Industry Canada's requests for information in the 136 days since the transaction was announced, and Accelero has proposed far-reaching, comprehensive and binding undertakings to the Canadian government, including a commitment to invest $300 million over three years to pursue Allstream's capital plans. The government has nevertheless now made the determination to reject the transaction due to unspecified national security concerns, and has rejected an offer from MTS and Accelero to take whatever actions are necessary to address the government's concerns. 

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