In brief: MTS Allstream focusing on finding US investor

18 Jun 2012

Canadian newspaper The Globe & Mail writes that regional telco Manitoba Telecom Services (MTS) is focusing on finding a US-based investor for its national MTS Allstream division, after failing to line up a likely Canadian investor. MTS is working with Morgan Stanley and investment bankers from CIBC to redouble its search for a foreign suitor, particularly in the US, people familiar with the situation were quoted as saying. The Canadian government recently decided to scrap foreign investment restrictions for telecoms network operators with a sub-10% revenue market share – which applies to all except the three largest groups Bell, Rogers and Telus – and the legal amendments, which are included in the federal budget bill, will take effect upon royal assent, which is expected this month.

Canada, Bell MTS (formerly MTS)