CRTC approves MTS licence transfer to Bell
The Canadian Radio-television and Telecommunications Commission (CRTC) has approved a broadcasting licence transfer from Manitoba Telecom Services (MTS) to Bell Canada
After Bell Canada’s $3.1 billion acquisition of the regional carrier, the Canadian regulator yesterday approved the deal, transferring broadcasting distribution licences to Bell Canada. It represents the first of three regulatory approvals – the deal still requires approval from both the Competition Bureau and Innovation, Science and Economic Development (ISED) - before the merger is expected to be completed in early 2017.
“We continue to make progress toward uniting Bell and MTS as we work with federal regulators to complete the remaining transaction approvals," BCE president and CEO George Cope said in a statement.
"Bell and MTS look forward to implementing our billion-dollar capital investment program to bring innovative broadband fibre and wireless services to Manitobans everywhere."
Bell has previously announced that it will invest C$1 billion in capital over five years after the transaction closes to expand its broadband networks and services throughout the province, contributing new communications infrastructure and technologies that deliver the latest wireless, internet, TV and media services to residents and businesses.
Jay Forbes, president and CEO of MTS, added earlier this year: “Now, enabled by Bell's national scale and commitment to broadband investment, Bell MTS will be very well-positioned to accelerate service innovation, customer support and community investment to the benefit of Manitobans like never before." GTB