Allstream (NASDAQ:ALLSB)
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From May 2019 to May 2024
MTS acquisition of Allstream completed
TORONTO, June 4 /PRNewswire-FirstCall/ -- Allstream Inc. (TSX:ALR.A; ALR.B;
NASDAQ: ALLSA; ALLSB ("the Company" or "Allstream") announced that Manitoba
Telecom Services Inc. ("MTS") today completed its acquisition of Allstream
Inc., in a transaction that has created a new formidable national provider with
a strong platform for growth.
As part of today's closing, MTS has acquired all of the Allstream Class A
Voting and Class B Limited Voting Shares for exchange with MTS shares and cash.
Allstream's shares are being delisted from the Toronto Stock Exchange and the
NASDAQ National Market system. Allstream shareholders should contact their
advisors for more information.
Bell Canada has commenced a legal proceeding against Allstream Inc. claiming
damages of $150 million from Allstream for conspiracy and inducing MTS to
breach certain obligations to Bell Canada. MTS has advised Allstream that MTS
will vigorously defend all of the Bell Canada legal proceedings.
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 division of MTS Allstream
Inc., Canada's third largest communications provider with 7,000 dedicated
employees focused on delivering outstanding value to its customers. For more
information about MTS, please visit: http://www.mts.ca/.
DATASOURCE: Allstream Inc.
CONTACT: Media: May Chong, Allstream, (416) 345-2342,
; Investors and Analysts: Brock Robertson,
(416) 345-3125, ; Dan Coombes, (416) 345-2326,