February 15, 2017 / 2:08 PM / 6 months ago

BRIEF-Bell acquisition of MTS receives final regulatory approvals from ISED, competition bureau

Feb 15 (Reuters) - BCE Inc:

* Bell acquisition of MTS receives final regulatory approvals from ISED and competition bureau, transaction set to close on march 17

* BCE Inc - expects to capture increased annualized cost synergies of approximately $100 million from integration of mts

* BCE Inc - bell MTS plans to invest $1 billion over next 5 years to "enhance" broadband networks and services in manitoba

* BCE Inc - new synergy estimate from MTS deal is double its previous estimate

* BCE Inc - amount of reverse break fee payable by bell to MTS in certain circumstances has also been increased from $120 million to $200 million

* BCE Inc - will divest to Telus Corp approximately one-quarter of MTS postpaid subscribers, for total proceeds of approximately $300 million

* BCE - Bell and MTS agreed to transfer to Xplornet communications total of 40 mhz of 700 mhz, aws-1 and 2500 mhz wireless spectrum currently held by MTS

* BCE Inc - financial terms of xplornet transactions will not be disclosed

* Says Bell MTS announcing that we will maintain current mts wireless price plans for at least 12 months after closing of acquisition

* BCE Inc - will also divest to Telus 13 MTS retail locations following completion of bell MTS transaction Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below