MTS completes $465M sale of Allstream to Zayo

TORONTO and WINNIPEG – MTS said Friday that it has finalized the sale of Allstream to Zayo Group Canada Inc., a wholly-owned subsidiary of Colorado-based communications infrastructure service provider Zayo Group, LLC.The $465 million all-cash deal was first announced in November. After closing costs, MTS said that it expects to realize net proceeds of approximately $420 million, approximately $15 million more than the anticipated net proceeds of the previously attempted sale of Allstream in May 2013 to Accelero Capital Holdings. That deal was nixed by the federal government a few months later amidst national security concerns.MTS said it is finalizing the...