Allstream sale rejected by Canadian government

A potential sale of Canadian company Allstream to Accelero Capital Holdings has been rejected by the Canadian government.

Manitoba Telecom Services (MTS), which owns Allstream, said the proposed sale was rejected by the government due to “unspecified national security concerns”.

According to Reuters, the government has also rejected MTS and Accelero’s offer to take the necessary steps to address the concerns.

MTS said in May it would sell its Allstream fibre optic network to Accelero, the equity firm controlled by Naguib Sawiris for $500 million.

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