Former Wind Mobile backer Sawiris acquires Allstream for $520 million

TORONTO – Manitoba Telecom Services Inc. announced today it has agreed to sell its Allstream business services unit to Accelero Capital Holdings, the investment company owned by former Wind Mobile backer Naguib Sawiris, for $520 million. The deal follows a lengthy strategic review by MTS Inc. to explore different options for Allstream’s future. Headquartered in Toronto, Allstream has approximately 30,000 km of fibre network across Canada and a client base of more than 50,000 businesses. The deal may provide Sawiris with the foothold he needs to re-enter the Canadian wireless market and participate in the upcoming 700 MHz spectrum auction...