WINNIPEG – MTS shareholders have voted overwhelmingly in favour of the proposed $3.9 billion acquisition by BCE.
The deal was approved Thursday by 99.66% of the 43,098,172 votes cast by shareholders present in person or represented by proxy at the special meeting of shareholders held in Winnipeg.
"MTS shareholders have overwhelmingly supported the BCE transaction," said MTS president and CEO Jay Forbes, in a statement. "This strong support reflects the meaningful value that shareholders will receive as a result of this transaction, which also provides compelling benefits to MTS customers, employees and to the province of Manitoba. With these shareholder approvals in place, we will continue to work with BCE to secure the necessary regulatory approvals with a view to closing the transaction as expected."
The transaction is subject to the approval and issuance of a final order by the Manitoba Court of Queen's Bench, as well as approvals from the CRTC, Competition Bureau, the Minister of Innovation, Science and Economic Development Canada (ISED) and the satisfaction or waiver of other customary closing conditions. It is currently expected to close in late 2016 or early 2017.
