MTS sells Allstream unit to Zayo for $465M

TORONTO and WINNIPEG – MTS has sold off its Allstream division to Colorado-based communications infrastructure service provider Zayo Group Holdings Inc. for $465 million in cash, the company announced early Monday.The deal comes some six months after MTS Allstream completed a strategic review that determined that the Toronto-based Allstream division was not “integral or strategic to MTS's future”. After closing costs, MTS said that it expects to realize net proceeds of approximately $425 million from the sale. The company said that the sale process was thorough, with a large number of potential buyers resulting in multiple bids for consideration."We believe this transaction maximizes...