Allstream (NASDAQ:ALLSB)
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Allstream receives final court order
TORONTO, May 14 /PRNewswire-FirstCall/ -- Allstream Inc. (TSX:ALR.A; ALR.B;
NASDAQ: ALLSA; ALLSB) announced today that the final order of the Ontario
Superior Court of Justice (Commercial List) relating to the arrangement
transaction (the "Arrangement") involving Allstream Inc. and Manitoba Telecom
Services Inc. was granted today in Toronto, Ontario.
The completion of the Arrangement is still expected to close some time in early
June, subject to certain regulatory approvals under the Competition Act in
Canada and by the Federal Communications Commission in the United States.
As previously announced, the deposit date for holders of Allstream's Class A
Voting and Class B Limited Voting Shares to submit completed letters of
transmittal and Allstream share certificates in exchange for MTS shares and
cash has been extended to May 27, 2004 from the initial deposit date of May 14,
2004.
About Allstream
Allstream is a leading communication solutions provider with a world-class
portfolio of Connectivity, Infrastructure Management and IT Services. Focused
on the Business market, Allstream collaborates with customers to create
tailored solutions that meet their unique needs and help them compete more
effectively. Spanning more than 18,800 kilometres, Allstream has an extensive
broadband fibre-optic network and the greatest reach of any competitive
communication solutions provider in Canada, and provides international
connections through strategic partnerships and interconnection agreements with
other international service providers. Allstream is a public company with its
stock traded on the Toronto Stock Exchange under the symbols ALR.A and ALR.B
and the NASDAQ National Market system under the symbols ALLSA and ALLSB. Visit
Allstream's website, http://www.allstream.com/ for more information about the
company.
Note to Allstream Investors
This news release includes statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. For those statements, we claim the protection of the safe harbor
for forward-looking statements provisions contained in the United States
Private Securities Litigation Reform Act of 1995. The Company cautions that
actual performance will be affected by a number of factors, many of which are
beyond the Company's control, and that future events and results may vary
substantially from what the Company currently foresees. Discussion of the
various factors that may affect future results is contained on page 1 of the
Company's Annual Information Form dated April 8, 2004, which is filed with the
Securities and Exchange Commission, the Ontario Securities Commission, and
SEDAR.
DATASOURCE: Allstream Inc.
CONTACT: Media: May Chong, Allstream, (416) 345-2342,
; Investors and Analysts: Brock Robertson,
(416) 345-3125, ; Dan Coombes,
(416) 345-2326,