Bell obtains all regulatory approvals to complete MTS acquisition
Bell's purchase of MTS has been met with regulatory approval in Canada.
The new entity to be forged from the old company, to be known as Bell MTS, will launch on 17 March and has promised to immediately freeze wireless plan prices for at least 12 months.
Bell MTS has said that it plans to invest $1 billion over the next five years to enhance broadband networks and services in Manitoba. These services include the introduction of Gigabit
In an agreement entered into with the Canadian Competition Bureau and filed with the Competition Tribunal, Bell and MTS have agreed to transfer to Xplornet Communications Inc. a total of 40MHz of 700MHz, AWS-1 and 2500MHz wireless spectrum currently held by MTS, which has also been approved by ISED; 24,700 wireless customers once Xplornet launches its mobile wireless service; and five retail outlets in Winnipeg and one in Brandon.
"Bell MTS will deliver the best broadband networks and unprecedented service innovation to Manitobans, growing competition, choice and value in communications throughout the province. In addition to our capital investments to roll out our
Xplornet will receive transitional remedy network access from Bell MTS in urban areas of Manitoba for three years.
In an agreement announced May 2016 and now approved by the Competition Bureau, Bell will divest to TELUS one-quarter of MTS postpaid subscribers, for total proceeds of approximately $300 million, subject to final adjustments, and 13 MTS retail locations following the completion of the Bell MTS transaction.
Bell said that it now expects to find savings of about $100 million from