CANADA: Canada foreign investment: Government rejects sale of Allstream on national security grounds

Tuesday October 15 2013

The Government of Canada has concluded its review of Accelero Capital Holdings` proposed acquisition of the Allstream division of Manitoba Telecom Services Inc. (MTS) under the national security provisions of the Investment Canada Act. The review concluded that the transaction of Canadian foreign investment will not proceed.

The reason for refusal of the foreign acquisition is that MTS Allstream operates a national fibre optic network that provides critical telecommunications services to businesses and governments, including the Government of Canada.

Click on the above link for the official statement.