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Manitoba Telecom says president of Allstream division to leave on Jan. 17

WINNIPEG - Manitoba Telecom Services Inc. (TSX:MBT) says the president of its MTS Allstream division is stepping down on Jan. 17 to pursue other interests, following 17 years with the company. Allstream president Dean Prevost will be replaced by the division's chief operating officer, Michael Strople, who has been with the company since 2005. Prevost is the second senior executive to depart Allstream since the federal government blocked a deal in October to sell the operations to an Egyptian group for $520 million.

Manitoba Telecom says president of Allstream division to leave on Jan. 17

WINNIPEG - Manitoba Telecom Services Inc. (TSX:MBT) says the president of its MTS Allstream division is stepping down on Jan. 17 to pursue other interests, following 27 years with the company. Allstream president Dean Provost will be replaced by the division's chief operating officer, Michael Strople, who has been with the company since 2005. Provost is the second senior executive to depart Allstream since the federal government blocked a deal in October to sell the operations to an Egyptian group for $520 million.

Telecom tycoon says Ottawa's policy imperils Wind, foreign investment

By Alastair Sharp and Euan Rocha TORONTO (Reuters) - Lack of clarity around Ottawa's telecommunications policy has jeopardized foreign investment in Canada and cast doubt over the future of Wind, the largest new player in the Canadian wireless market, said Egyptian telecom magnate Naguib Sawiris on Wednesday. Sawiris bankrolled the start-up of new telecom player Wind Mobile in 2008, but he lost his ties with the company after his controlling stake in Orascom was sold to European telecoms firm Vimpelcom Ltd in 2011.

Egyptian tycoon says Wind Mobile in peril due to Ottawa policy

By Alastair Sharp and Euan Rocha TORONTO (Reuters) - Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa's telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust. Asked about the health of the company, a spokesman for Wind said by email: "We can't comment on Mr. Sawiris' statement as it is his personal opinion and he is no longer connected to Wind Mobile Canada."

Analysis: Canada veto complicates BlackBerry, telecom deal making

By Euan Rocha and Alastair Sharp TORONTO (Reuters) - When Canada blocked the sale of a fiber optic network to a company backed by an Egyptian telecom tycoon this week, it telegraphed its resolve to make national security paramount when considering whether to allow a foreign firm to acquire what it considers a strategic asset.

Feds rejects Allstream sale to Egyptian group over 'national security': MTS

WINNIPEG - Manitoba Telecom Services (TSX:MTS) says the federal government has rejected a deal for it to sell its business unit Allstream to Egyptian investment group Accelero Capital Holdings due to "unspecified national security concerns." The Winnipeg company said late Monday it is "extremely surprised and disappointed" by the decision to not approve the deal, which was announced last May. At the time, the company valued the sale at $520 million.

Sawiris eyes Telecom Italia, but concerned about Rome

By Paola Arosio MILAN (Reuters) - Egyptian telecoms tycoon Naguib Sawiris said on Saturday he was still interested in taking a stake in Telecom Italia <TLIT.MI> but might be discouraged if the Italian government was opposed. In an emailed statement to Reuters, Sawiris said he was considering a "potential investment in Telecom Italia" but might not submit a proposal "in view of (Italy's)... alleged preference for Telefonica reported in the Italian press."

Italy won't block foreign takeovers: Economy Minister

By Lisa Jucca and Luca Trogni MILAN (Reuters) - Italy has no plans to oppose foreign takeovers of domestic companies, its economy minister said on Saturday, as suitors size up Telecom Italia <TLIT.MI> and Finmeccanica's <SIFI.MI> power engineering business. The defense group is in talks to sell AnsaldoEnergia to South Korea's Doosan Heavy Industries <034020.KS> while Egyptian tycoon Naguib Sawiris expressed interest in Italy's main telecoms operator ahead of a September 19 board meeting.

AT&T, Sawiris circle Telecom Italia: source

By Paola Arosio MILAN (Reuters) - Egyptian tycoon Naguib Sawiris and U.S. telecoms giant AT&T have contacted the core investors who want to sell their shares in Telecom Italia, a source close to the situation said. The same source earlier said Mexico's America Movil had been interested, though the Mexican telecoms giant owned by tycoon Carlos Slim denied it had had any contact.

Manitoba Telecom Services posts second-quarter loss of $52.9M, higher revenues

WINNIPEG - Manitoba Telecom Services (TSX:MTS) reported a net loss of $52.9 million in its second quarter. That compared with a profit of $36.6 million in the same quarter last year, the regional telecom company said Thursday. Revenue was slightly higher at $247.4 million, compared with $246.8 million. Earnings per share were lower at 42 cents compared with 49 cents year-over-year. In May, MTS announced that it was selling its business unit Allstream to Accelero Capital, which is owned by Egyptian telecom magnate Naguib Sawiris, for $520 million.
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