KENORA – Bell Aliant said today it will spend $27 million to buy the Kenora Municipal Telephone System from the City of Kenora.
"In an increasingly competitive industry, Bell Aliant has the necessary scale and resources to offer our customers access to the latest products, services and innovative technology," said KMTS general manager Dennis McCaffrey in a press release.
"We understand the importance of KMTS to Kenora and look forward to building on the excellent foundation of service and value already in place for customers in this area," said Stephen Wetmore, President and CEO of Bell Aliant.
This acquisition fits Bell Aliant’s focus, which provides regional telecom service in Eastern Canada, and portions of rural Quebec and Ontario, and also creeps its network westward.
Bell Aliant also committed to offer employment to all current KMTS staff, “to ensure a seamless transition for its customers and to maintain a strong emphasis on sponsorship and investment in the community,” says the press release.
"City Council is pleased with the purchase proposal and believes it is in the best interests of Kenora and KMTS’s customers and employees to accept this offer by Bell Aliant," said Kenora Mayor Len Compton in the release. KMTS has operated in the city since 1902.
The proposed transaction is subject to final approval by Kenora’s City Council following a public information meeting which will be held in Kenora on January 15, 2008. Once authorized, closing will be subject to customary terms and conditions, including regulatory approvals from Industry Canada and the CRTC
