BCE's Manitoba Telecom Takeover Approved With Several Conditions
- Competition Bureau forces BCE to sell assets to Xplornet
- C$3.1 billion deal was initially announced in May 2016
BCE's Manitoba Telecom Takeover Approved With Conditions
BCE Inc. cleared the final hurdles for its C$3.1 billion ($2.4 billion) purchase of Manitoba Telecom Services Inc. after Canadian regulators approved the deal provided BCE sells parts of the new business to internet provider Xplornet Communications Inc.
The ruling pushes BCE to go further than it already has to allay fears the deal will lead to higher prices for Manitoba’s consumers. The Montreal-based company had already agreed to sell a third of Manitoba Telecom’s customers to Telus Corp. and invest heavily in wireless and internet networks in the province. The new agreement announced Wednesday requires BCE to sell Xplornet some wireless spectrum, six retail stores and 24,700 wireless subscribers. Manitoba Telecom has about 490,000 subscribers.