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MTS acquisition of Allstream completed

Manitoba Telecom Services Inc. today completed its acquisition of Allstream Inc.


June 4, 2004  


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Manitoba Telecom Services Inc. today completed its acquisition of Allstream Inc.

“We are delighted to have completed this transaction, and are ready to hit the ground running,” said Bill Fraser, President and CEO of MTS. “This deal can only mean good news for enterprise clients across the country.”

MTS announced its intention to acquire Allstream on March 18. On a pro forma basis, the new company will have annual revenues of more than $2 billion and a fibre based national network infrastructure.

Fraser previously announced that he will remain as CEO of the expanded company. Cheryl Barker, current President & COO, MTS Communications, will head up the Manitoba operations and John MacDonald, current President andCOO of Allstream, will be responsible for the national enterprise business.

Wayne Demkey, currently MTS Executive Vice-President Finance & CFO, will assume this responsibility for the expanded company.

A transition team made up of senior managers from both companies will now begin implementing its strategic plan.

The Ontario Superior Court of Justice issued a decision on Wednesday dismissing Bell Canada’s motion for an interlocutory injunction restraining MTS from allegedly breaching a subscription agreement and a Distribution andIntellectual Property Agreement (the “DIPA”) between it and MTS.


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