BCE transaction set to close on March 17, 2017
On February 15, 2017, MTS announced that the Competition Bureau and Innovation, Science and Economic Development Canada (ISED) have approved the acquisition of MTS by BCE Inc. (BCE) pursuant to the previously announced plan of arrangement (the Arrangement). Closing of the Arrangement has been set for March 17, 2017.
On May 1, 2016, we entered into a definitive arrangement agreement with BCE Inc. (BCE) whereby BCE agreed to purchase all the issued and outstanding common shares of MTS. Shareholders of MTS will be entitled to elect to receive $40.00 per common share in cash or 0.6756 of a common share of BCE for each MTS common share, subject to customary closing conditions and satisfaction of other required approvals, including receipt of regulatory approvals. We received the Canadian Radio-television and Telecommunications Commission (CRTC) approval on December 20, 2016 and on February 15, 2017, received approvals from the Competition Bureau and ISED.
BCE transaction information
Manitoba Telecom Services Inc. (MTS)
MTS is the leading information and communications technology provider in Manitoba. Our operating companies include MTS Inc., AAA Security, Epic Information Solutions, The Technology Consortium and MTS Data Centres. Our 2,800 employees provide a complete range of wireless, wireline, information technology and security services to residential and business customers throughout the province.
We are completely focused on being the provider of choice for our customers, delivering solutions that meet their unique needs through an unmatched customer experience.
For our residential customers we provide wireless, internet, television, home phone, and security services on the most extensive networks in the province. We provide whole home solutions through industry leading offerings such as Total Internet, MTS Ultimate TV and AAA Smarthome services. We are the leading communications supplier to residential customers in Manitoba.
For our business customers we are the trusted advisor as Manitoba’s only full-service information and communications technology provider. Our solutions include unified communications and collaboration services, IP data networking, cloud and colocation solutions, business security solutions, and information technology and desktop solutions. We serve small, medium and enterprise customers and are the number one choice for Manitoba businesses.
Q3 2016 selected financial information
|Q3 2016||Q3 2015|
|($ millions, unless otherwise stated)|
|EBITDA before restructuring and transformation costs||121.5||111.8|
|Free cash flow||48.0||29.9|
|Free cash flow per share||$0.65||$0.38|
|S&P - Senior debentures: BBB (positive)||DBRS - Senior debentures: BBB (positive)|
|S&P - Commercial paper: A-2||DBRS - Commercial paper: R-2 (high)|
Our common shares are listed on the Toronto Stock Exchange (trading symbol: MBT).
MTS is Manitoba’s leading communications and information technology services company. We provide consumers and businesses with a full range of wireless, high-speed internet, TV, phone, information technology, cloud and security services. We are focused on serving the unique needs of our customers and giving back to organizations that strengthen our communities. We live where we work, and actively give back to organizations that strengthen our communities. Through MTS Future First, we provide sponsorships, grants and scholarships, value-in-kind support and volunteer commitment in Manitoba.
For more on MTS’ products and services, visit mts.ca.
Our strategic lines of business consist of broadband, wireless, information solutions and converged IP services. The following is our revenue mix which also includes our legacy lines of business.