BCE to buy Manitoba Telecom in friendly deal worth $3.9B

BCE Inc. has a friendly deal to buy Manitoba Telecom Services Inc. in a deal they value at $3.9 billion.

The deal will add Manitoba's largest phone, Internet and wireless company to a Montreal-based telecommunication business that stretches across Canada.

BCE is offering $40 per share in cash or equity for the Winnipeg-based company's stock.

It will also have the opportunity to match any superior offer that may come forward.

The agreement will require various approvals, including from the Canadian Radio-television and Telecommunications Commission, but is expected to close late this year or early 2017.

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